Buying property when moving back to the UK
Apr 15th 2018, 7:39 am
#1
Forum Regular
Thread Starter
Joined: Jul 2017
Posts: 43
Buying property when moving back to the UK
Hi everyone,
My family is moving back to the UK this year, having been living in Australia for the past 13 years. My husband is Australian, so has no UK credit history. My question is, will we be able to buy a property as soon as we move back? Is the situation any different if it's an investment property? We were thinking of buying somewhere but only for 6 months and then renting it out, but not sure we can do this if we've been overseas for so long? Any advice would be much appreciated! Thank you
My family is moving back to the UK this year, having been living in Australia for the past 13 years. My husband is Australian, so has no UK credit history. My question is, will we be able to buy a property as soon as we move back? Is the situation any different if it's an investment property? We were thinking of buying somewhere but only for 6 months and then renting it out, but not sure we can do this if we've been overseas for so long? Any advice would be much appreciated! Thank you
Apr 15th 2018, 8:34 am
#2
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Buying property when moving back to the UK
Lenders will look at your savings and income. Shop around an look for a "buy-to-rent" mortgage.
Apr 15th 2018, 6:56 pm
#3
BE Forum Addict
Joined: Sep 2014
Posts: 1,114
Re: Buying property when moving back to the UK
You may also want to get in touch with HSBC Australia's International Banking Centre for more information -
https://www.hsbc.com.au/1/2/personal.../move-os/apply
https://www.hsbc.com.au/1/2/personal.../move-os/apply
Apr 16th 2018, 8:38 pm
#4
Yorkshire meets Vegas
Joined: Jul 2004
Location: T. ON (so there!)
Posts: 1,354
Re: Buying property when moving back to the UK
The advice I've been given as a returnee, is that qualifying for a mortgage without a credit history should not be a problem, as long as you can add sufficient equity to the property, and have evidence of where your income for paying for the mortgage will come from. If you can bring a credit report, showing a good credit history, this will likely work as well
