Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

Remortgage UK Property as an Expat

Remortgage UK Property as an Expat

Reply

Old Dec 7th 2017, 8:03 am
  #1  
Shandyw
Thread Starter
 
Joined: Oct 2005
Location: Brighton
Posts: 39
shandyw will become famous soon enoughshandyw will become famous soon enough
Default 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
shandyw is offline  
Reply With Quote
Old Dec 7th 2017, 8:28 am
  #2  
Concierge
 
spouse of scouse's Avatar
 
Joined: Jan 2013
Location: Wirral UK
Posts: 8,333
spouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond repute
Default Re: Remortgage UK Property as an Expat

Originally Posted by shandyw View Post
Hello there
Does anybody have any tips or recommendations for remortgaging your UK property if you are now living in Australia?
Thanks
Shandy
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).
spouse of scouse is offline  
Reply With Quote
Old Dec 7th 2017, 8:11 pm
  #3  
BE Enthusiast
 
Joined: Jan 2017
Posts: 341
Stuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond reputeStuck in Auckland has a reputation beyond repute
Default Re: Remortgage UK Property as an Expat

Wonder if the loss of interest tax deductibility has made Buy to Lets more difficult
Stuck in Auckland is offline  
Reply With Quote
Old Dec 7th 2017, 8:53 pm
  #4  
Concierge
 
mikelincs's Avatar
 
Joined: May 2006
Location: ex ex-pat, in Axminster
Posts: 21,870
mikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond repute
Default Re: Remortgage UK Property as an Expat

Originally Posted by Stuck in Auckland View Post
Wonder if the loss of interest tax deductibility has made Buy to Lets more difficult
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.
mikelincs is offline  
Reply With Quote
Old Dec 8th 2017, 8:52 pm
  #5  
Shandyw
Thread Starter
 
Joined: Oct 2005
Location: Brighton
Posts: 39
shandyw will become famous soon enoughshandyw will become famous soon enough
Default 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?
shandyw is offline  
Reply With Quote
Old Dec 8th 2017, 9:17 pm
  #6  
Concierge
 
spouse of scouse's Avatar
 
Joined: Jan 2013
Location: Wirral UK
Posts: 8,333
spouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond reputespouse of scouse has a reputation beyond repute
Default Re: Remortgage UK Property as an Expat

Originally Posted by shandyw View Post
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?
Actually, you asked for tips and recommendations Mortgage broker was my tip, sorry but can't help with a recommendation.
spouse of scouse is offline  
Reply With Quote
Old Dec 8th 2017, 11:01 pm
  #7  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 11,789
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Remortgage UK Property as an Expat

Originally Posted by shandyw View Post
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?
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?
Beoz is offline  
Reply With Quote
Old Dec 10th 2017, 5:06 am
  #8  
Shandyw
Thread Starter
 
Joined: Oct 2005
Location: Brighton
Posts: 39
shandyw will become famous soon enoughshandyw will become famous soon enough
Default 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.
shandyw is offline  
Reply With Quote

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us Archive Advertising Cookie Policy Privacy Statement