tryn67

Hey does anyone know can we remortgage our property in the uk while we are resident here in oz?

Also can we use that money here in oz?

JAJ

Why not just sell it?

Bermudashorts

You would have to get some kind of expat mortgage which no doubt will attract a higher exchange rate and then you would be moving money at rubbish exchange rate. It seems foolish to me and causes an exchange rate mismatch between income and expenses which is never a good idea. Why not borrow what you need in Australia?

Emma_Par

So can you get a mortgage in Australia for a property in UK?

sportsendurance

We looked at getting a mortgage in Ozz, but despite having a house in the UK, I was told I still needed a minimum of 5% deposit here still. They said that having a house in the UK was irrelevant so we just send our money over to the UK!
As said above, selling our house now and then transfering those finances would not be sensible under the current climate.

If this information is not correct, I would be interested in knowing which bank would help.

Bermudashorts

Not sure what you mean.

Do you mean get a UK mortgage on a UK property whilst living in Australia?

Or do you mean get an Australian mortgage on a UK property?

The former is what I was referring to, expat mortgages expensive but doable. The latter, an Australian mortgage on UK property, I think would be almost impossible.