Bison

Hi Guys,

I need some advice as I have found a nice 4 bed property back home that I want to buy.

I am a first time buyer so am just starting to research mortgage options but basically need to know how to get a Mortgage in the UK whilst living and working in Dubai?

I will be renting the property out to family once I have purchased it.

Can anyone advise.


B

Border Reiver

HSBC Offshore on Beach Road will fix you up with a UK mortgage based on your Dubai income. I've mortgaged through them and it was all fairly painless. Other than that I think Meow knows of some options so you could try a PM to her.

Autonomy

Do you know what criteria they base your mortgage limit on - is it like the UK where it is something like 3.5 times your annual salary for a couple? Also - what deposit are they looking at? Cheers!

Bison

Yeah that would be good to know, also if I moved back to the UK after taking a mortgage through these guys would it be a hassle or is everything then just transferred to the UK?

B

Meow

I can certainly help if you'd like to contact me by PM.


(Belated response as I've been away.)


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Autonomy

indeed... *cough* *Belated response* hope you and the old man had fun with the fish...

Spugsy

Blue Cat

Meow has just visited the Maldives

Spugsy

ooh the jammy cow.

MrsHaps

me and the hubby were just talking about this the other day, can you get a UK mortgage using your employment here? We have a house, we do not rent it out my sister house sits for us. Our fixed rate still has over a year left on it thank god but i was wondering how we go about a remortgage.... do we really want them in the UK to know how much we were earning over here!!!??

Ta muchy

Norm_uk

Why would you want a UK mortgage if you are when there are some lovely offshore mortgages that can save you money.

I know a very good broker who is UK qualified...PM me if you want the details.

N.

Meow

Yes, you can get a mortgage in the UK based on overseas income. You may qualify for an international mortgage (strict criteria) but if you really want a fixed rate you would need to apply for a UK loan.

I can assist if you are interested (still UK as well as UAE authorised to provide advice).


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username 34

we've just tried to remortgage our UK property (we rent it out) and its been a LIVING NIGHTMARE!

with the credit problems they are finding any excuse not to lend as many banks physically dont have the money to lend, especially for buy to let. We have a small mortgage (under 80k), equity is 80% of the property and we have 11 years left of a mortgage life and our income is six figures. These are all the companies that 3 years ago when we last looked at new terms were biting our arm off to get our business.

Didnt matter one bit - even our existing company we've been with for 7 years wouldnt give us a new deal as they are not issuing any new mortgage terms so we've been sitting on their variable rate ever since May.

Got other quotes - 3 intotal would give us a mortgage out of over 90 companies - and after months of very tiring proof of address (we live in company house with everything paid for by the company so we have no utility bills etc...) a load of stupid safety measures they wanted we pulled out. We're better off sitting on our existing companies variable rate until they offer new deals, dont have to pay new arrangment fees and go through all the crap again.