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    • vics199
    • By vics199 12th Sep 17, 5:13 PM
    • 135Posts
    • 334Thanks
    Mortgage after living overseas
    • #1
    • 12th Sep 17, 5:13 PM
    Mortgage after living overseas 12th Sep 17 at 5:13 PM
    Hi all, I am after some further opinions from any mortgage brokers/ people who have gone through the same process, after having spoken to a mortgage advisor recently who said I would not get a mortgage until I have been back in the UK for 2 years. He was so adamant of this that he wouldn't proceed any further than a quick advice chat.

    I am a British citizen, born in the UK to UK parents. I currently have a residential mortgage on a property elsewhere in the country that I bought in 2010, It is on consent to lease.

    I moved to New Zealand for 21 months, returning to the UK in August 2016. Whilst in NZ I still had my UK bank account which was actively used for direct debits etc, 4 x active UK credit cards and a loan (at the time). I therefore do have a UK credit history for that 21 months.

    The mortgage advisor said that the reason I won't get a mortgage for 2 years is because lenders can't access my NZ credit history. However, because I was not a permanent resident there I was not able to apply for any credit cards etc in NZ and therefore there is no credit history to review anyway!

    What do other people think? Is this correct advice or should I look for another mortgage broker who might help me?

    I am looking to re-mortgage my current property to BTL, use some of the equity in the property to put down a 20% deposit on a residential property for myself to live in.

    Thanks in advance for any advice.
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    • Inae
    • By Inae 12th Sep 17, 8:03 PM
    • 4 Posts
    • 0 Thanks
    • #2
    • 12th Sep 17, 8:03 PM
    • #2
    • 12th Sep 17, 8:03 PM
    Hello. I got a mortgage from Halifax after 10 months of living in the UK, with very limited credit history. I got a bank account with overdraft, a mobile phone, and registered to be on the electoral roll right after moving to the UK - that was the extent of my credit history. My deposit was 15% and I'm not a British citizen (EU citizen). Not sure if things have changed since then, this was early 2012.
    • Lilla D
    • By Lilla D 12th Sep 17, 10:10 PM
    • 339 Posts
    • 178 Thanks
    Lilla D
    • #3
    • 12th Sep 17, 10:10 PM
    • #3
    • 12th Sep 17, 10:10 PM
    OP - I can also confirm that there are lenders who can give a mortgage in your situation, i.e. with continuous UK credit history, even if you haven't been back in the UK for 2 years yet. Granted, your options will be limited, but it is possible, so I would agree that speaking to another broker is your best course of action.

    Inae - although a lot has changed since 2012, Halifax is still a good option for resi mortgages, but BTLs are done by their sister company, who normally require min 1yr UK residency and there are other T&Cs as well.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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