Remortgage UK Property as an Expat
 

Hello there
Does anybody have any tips or recommendations for remortgaging your UK property if you are now living in Australia?
Thanks
Shandy

Re: Remortgage UK Property as an Expat
 

I'd always go for a mortgage broker, unless your bank is willing to offer you a good deal. Just an aside, if you're renting your UK property you must tell your mortgage provider (if you haven't already).

Re: Remortgage UK Property as an Expat
 

Wonder if the loss of interest tax deductibility has made Buy to Lets more difficult

Re: Remortgage UK Property as an Expat
 

I would think that getting a remortgage would be extremely difficult as you no longer live in the UK so they are unlikely to be able to prove your income, also trying to remortgage might well cause your repayments to increase unless they know you are no longer in the UK.

Re: Remortgage UK Property as an Expat
 

I have owned the property for along time and it is on a BTL mortgage, however my current lender won't allow me to re-mortgage as I have no other income in the UK. It seems there are brokers who can organise a mortgage or re-mortgage for expats, however they are not cheap. That's why I wondered if anyone had any recommendations?

Re: Remortgage UK Property as an Expat
 

Actually, you asked for tips and recommendations ;) Mortgage broker was my tip, sorry but can't help with a recommendation.

Re: Remortgage UK Property as an Expat
 

In my experience, it can be done but at a big cost. I was recommended a few brokers that specialised in expat mortgages and everyone I called could only find mortgages where they wanted silly interest rates.

Its been asked on here a number of times and I have not seen a workable answer.

Do you have to re-mortgage or let the existing roll on through?

Re: Remortgage UK Property as an Expat
 

I would like to remortgage to take some equity out, otherwise yes, I can retain my existing mortgage.