JB0591

Hi Forum

Has anyone any advice about remortgaging their UK house from Canada.

Our current mortgage discount rate is coming to an end and I am have been presented with very few options by my current provider.

Talking with some other lenders as soon as they hear I am outside the UK they dont want to know.

They seem to have you over both barrels, "buy-to-let, well that reduces your options and oh wait you are not resident in the UK, well we can't deal with you"

Any ideas?

Cheers

JB

gary123

Can't talk about Mortgages, but i had a credit card debit and they offered me a loan , I said i live in Canada, they said " we are not allowed to lend to some one who is not a uk resident ... That was Halifax , so not sure if that apply s to all UK Banks.

G

JAJ

Very few options? What are these options? One of them should that you can continue on their standard variable rate. They cannot just call in the loan unless the mortgage term is up.

It should still be possible to refinance but much harder than it was a number of years ago. What's the mortgage compared to the real value of the house? If 70% or less you may have more options. Try a mortgage broker?

Alan2005

Usually yes. But there are sometimes things in the T&C's that can mean the lender could ask for the loan to be paid in full. Them finding out you've let your house out on a normal residential mortgage being one of them, but there are others too.