Raising finance on property in UK while living in Oz
#1
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Joined: Apr 2007
Location: Manchester
Posts: 52
Raising finance on property in UK while living in Oz
We are trying to raise finance against a property we own in the UK whilst we are residents in Australia. We have been told by a building society that we cannot get a buy to let mortgage if we do not live in the UK. Does anyone know of another way to raise finance on UK property from abroad. The property has now current finance on it and the rents would more than cover any repayments. Any advice would be much appreciated.
#2
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Joined: Apr 2012
Location: Hong Kong
Posts: 8
Re: Raising finance on property in UK while living in Oz
We are trying to raise finance against a property we own in the UK whilst we are residents in Australia. We have been told by a building society that we cannot get a buy to let mortgage if we do not live in the UK. Does anyone know of another way to raise finance on UK property from abroad. The property has now current finance on it and the rents would more than cover any repayments. Any advice would be much appreciated.
#3
Just Joined
Joined: Mar 2012
Posts: 5
Re: Raising finance on property in UK while living in Oz
Hi,
I find that a lot of people get turned away by bank/building societies who do actually allow expats to borrow with them. My only assumption is that the individual you speak to does not know how to sturcture the application, or, they simply look at the rule book which will say something about not allowing people to borrow if they don't pay UK tax.
I am a mortgage broker based in the UK, and I specialise in this part of the market. I can help you ascertain your options from the whole market if you wish. Please feel free to private meesage me
Simon
I find that a lot of people get turned away by bank/building societies who do actually allow expats to borrow with them. My only assumption is that the individual you speak to does not know how to sturcture the application, or, they simply look at the rule book which will say something about not allowing people to borrow if they don't pay UK tax.
I am a mortgage broker based in the UK, and I specialise in this part of the market. I can help you ascertain your options from the whole market if you wish. Please feel free to private meesage me
Simon
#4
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Joined: Dec 2002
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Re: Raising finance on property in UK while living in Oz
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