roryjoseph

Broker Guide:

Do NOT pay any broker a fee until you have a mortgage offer

Make sure that they are whole of market/independent (harder than it sounds)

Ideally find an expat or HNW (high net worth) specialist - they will be used to placing cases out of the ordinary - or prepare yourself for a long wait followed by broken promises (excuse the cynicism)

Check them out on the UK FCA register - make sure they are legitimate

Have a look at their website - are their 'testimonials/feedback' from other 'non-standard' clients?

Pulaski

Well thanks to your unimaginative user name and with help from Google, who is my friend , it isn't hard to find you!

For those need help, add "broker" to Rory Joseph in a Google search.

roryjoseph

Good work Pulaski!

Beoz

Good stuff

Beoz

Tell me one thing. Can you find an expat mortgage that doesn't require a 50% deposit and has a 10% interest rate?

mrken30

HSBC can provide non resident buy to let mortgages for ex-pats.Might be worth giving them a call or going to a local branch in Oz. 75% LTV , 3.24 % rate

https://www.expat.hsbc.com/1/2/hsbc-.../am-i-eligible

roryjoseph

Better than 50% loan to value ...probably!
A better interest rate - definitely, unless you are very peculiar...

Yes, HSBC are great and you are best off talking to them direct - we are still going through due diligence to get acess, as they are rather limited distribution.
Do be careful though - I have heard many stories of meeting 1 seeming like it was a done deal, then meeting 2 ending with a no.

Beoz

See how far you get with that offer.

As a HSBC premier account holder, both UK and Oz, that offer is continually met by "gotcha's"

Its a gimmick at best.

I think I'm about to leave HSBC. The instant transfer back and forth is nice but I don't often do it.

christmasoompa

No, they don't - it's essentially just 'touting for business'. You can advise, and that's great, but you cannot direct anybody to your services at all.

HTH.

Dave1892

Say nothing, pay your mortgage......I did.

If you are committed to australia sell your uk house as soon as you can. If you want to play the currency game then put it in a uk donomination bank account and wait for a better time to transfer. Bear in mind that its not a zero sum game, while you wait you are paying more interest (or rent).

Who knows where the currency will go. The Uk could be a banana republic in a few years time; what price the currency then?

Leedarama

hi,
We are about to be in the same position - Moving to Oz from UK in 6 months and would like to remortgage to a 2 year fixed before we do. Does anyone know of any banks that wouldnt let them switch over to buy to let from overseas?

JinxyCat

I would recommend re-mortgaging and then applying for 'permission to let' before you left the UK. You can generally only do that once you've had the mortgage for a year though, so something to consider.

We did that with both HSBC and Woolwich and although they only gave permission for a year - we found they never followed up, and we kept on the residential, i.e. cheaper, rates. Which was fab.

We are so very very close to getting a re-mortgage with HSBC expat, 60% LTV, nearly GBP2k fee, 2.49% above base. But the amount of palavar we've gone through is incredible.
1. Open bank accounts, commit to keeping GBP60k in accounts at all times (not easy!)
2. Provide detailed accounting of all funds for all houses purchased ever (for us, two london flats and one house over a 15 year period) including who we were employed by and how we got the funds
3. Solicitor
4. Courier documents to and fro for 'wet' signings

So not 10%, not 50% required - but it's taken nearly 6 months to arrange (no joke)