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Mortgage - while still in the UK?

Mortgage - while still in the UK?

Old Oct 28th 2020, 10:44 am
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Default Mortgage - while still in the UK?

Hello all,
We landed last year, got our PR cards and came back to the UK. We'll move next spring. My partner will continue with the same job and I have to look for work when we move. If we find a good property before that, we'd like to buy. Can we get a mortgage now on our UK jobs? Do you know anyone who bought before moving? Any relevant advice is gratefully received
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Old Oct 28th 2020, 8:24 pm
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Default Re: Mortgage - while still in the UK?

Originally Posted by Winterdiva View Post
Hello all,
We landed last year, got our PR cards and came back to the UK. We'll move next spring. My partner will continue with the same job and I have to look for work when we move. If we find a good property before that, we'd like to buy. Can we get a mortgage now on our UK jobs? Do you know anyone who bought before moving? Any relevant advice is gratefully received
Info available on these links - just for info, no recommendation
https://mortgages.ca/buying-property...-non-resident/
https://www.dreyergroup.ca/mortgages/non-resident/
https://justo.ca/blog/non-resident-mortgage-in-canada/
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Old Oct 29th 2020, 12:00 am
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Default Re: Mortgage - while still in the UK?

Originally Posted by Winterdiva View Post
Hello all,
We landed last year, got our PR cards and came back to the UK. We'll move next spring. My partner will continue with the same job and I have to look for work when we move. If we find a good property before that, we'd like to buy. Can we get a mortgage now on our UK jobs? Do you know anyone who bought before moving? Any relevant advice is gratefully received
Are you planning on coming over to view properties and then buy one on that trip? Or are you thinking of buying based on looking on line. Both strategies are fairly risky in an area you know little about, the second one particularly, unless you have someone who is well versed in the area and specific issues with houses here that you absolutely trust to help you. When you offer for a house here, you effectively exchange contracts at that time. You can't agree a price and then back out a couple of weeks before closing like you can in the UK.
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Old Oct 29th 2020, 5:53 am
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Default Re: Mortgage - while still in the UK?

Originally Posted by HGerchikov View Post
.... You can't agree a price and then back out a couple of weeks before closing like you can in the UK.
Yes and no.

Google <Canadian home buying contingencies>
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Old Nov 2nd 2020, 2:59 pm
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Default Re: Mortgage - while still in the UK?

I would wait until you get here. Canadian property prices are verging on a collapse and rates are incredibly cheap. Also, you need to explore a bit before finding the right area for you - we moved 3 times in 2 years before finding a neighbourhood we like!
Buying property here is different to the UK and you'll get a better understanding of the market once you're over here.
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Old Nov 2nd 2020, 3:37 pm
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Default Re: Mortgage - while still in the UK?

Originally Posted by Pulaski View Post
Yes and no.

Google <Canadian home buying contingencies>
Yes you can have conditions (or contingencies) in your offer but you can only back out if you can't meet those conditions - you cannot back out purely because you have changed your mind, as you can in the UK. In the areas where the market is hot and you end up in a multiple bid situation its also close to impossible to get an offer with conditions accepted.
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