hawkwind

Hi All.

My apologies if I have posted this in the wrong forum, however I am after some advice with regards to remortgaging my UK property from Australia.

I am currently looking to purchase a property in Australia and to do that, I would like to free up some cash by remortgaging my UK property for the deposit.

Financially I can do this. I have run the numbers and they work. The proble. Is that being an expat causes the banks to say no. If I was doing a buy to let, it would be possible. However my sister moved into the house, which was to help her out and banks say you cannot buy to let from a family member.

I just wondered if anyone had been in this situation and if there was a way around this? It is possible, I know. Barclays said they will do it, but require a GBP25k bond for international banking. (However multiple people from Barclays/ Woolwich have said different things.)

I would appreciate any advice, as it appears that things are geared against you once you have left the UK.

Many thanks


Hawkwind

TakenThePlunge

I was in exactly the same boat, and did not find a solution, and I do have a buy to let mortgage in place. Essentially nobody was willing to remortgage it for anything approaching the same rate as I have now, or without bonds. I've also had problems with some shares that I have back there - the company holding them have frozen my account as I'm no longer UK based and I'm having a helluva time trying to get them released....

So good luck....