Remortgaging in UK from Aus
#1
Remortgaging in UK from Aus
This is rapidly turning into the Swerv-O asks questions for his friends forum, but here goes.
I have (a different) set of friends living here in Sydney, and they have a house in London that is currently being let. They are approaching the end of the introductory loan period, and want to re-mortgage with a buy-to-let, but are struggling to find anyone that will even talk to them.
Has anybody else tried to do this/have any experience that they can offer? Can anyone point them to a broker that may deal with situations like this? They don't want to sell the place, but the costs after the introductory period are almost double what they are paying now.
Anyone?
S
I have (a different) set of friends living here in Sydney, and they have a house in London that is currently being let. They are approaching the end of the introductory loan period, and want to re-mortgage with a buy-to-let, but are struggling to find anyone that will even talk to them.
Has anybody else tried to do this/have any experience that they can offer? Can anyone point them to a broker that may deal with situations like this? They don't want to sell the place, but the costs after the introductory period are almost double what they are paying now.
Anyone?
S
#2
Re: Remortgaging in UK from Aus
It can be done but is a pain.
The Skipton building soc are/were offering a good deal on buy to let, but these offers change really quickly.
Need to find an IFA in the UK to go through the best options for your mates' situation. Some will only lend against rental income/some if Loan to Value is less than x pct..so really need some professional help to go through this maze.
(I used an IFA who works for a company called Sweeting, Smedley and Paulding based in Burnham, Bucks)
The Skipton building soc are/were offering a good deal on buy to let, but these offers change really quickly.
Need to find an IFA in the UK to go through the best options for your mates' situation. Some will only lend against rental income/some if Loan to Value is less than x pct..so really need some professional help to go through this maze.
(I used an IFA who works for a company called Sweeting, Smedley and Paulding based in Burnham, Bucks)