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Mortgage for Non UK Resident..

Mortgage for Non UK Resident..

Old Aug 14th 2014, 5:00 am
  #16  
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Default Re: Mortgage for Non UK Resident..

REDACTED we use Nedbank Private Bank for our clients which is an offshore bank based in the Isle of Man. They will offer up to 60% loan to value on a property. Superb service, i use them myself.


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Last edited by mikewot; Aug 16th 2014 at 7:23 am.
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Old Aug 21st 2014, 7:04 pm
  #17  
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Default Re: Mortgage for Non UK Resident..

We are going through this process now as we need to change our mortgage to buy to let, our current lenders didn't offer this. Rightly or wrongly we are going with HSBC. Rate is significantly less than our current fixed rate even with redemption.

Process is not easy though.
Get premier account (never thought it was worth it before)
Two hour initial call - outcome was effectively willing to lend less than we needed, turns out that including housing allowance and prospective uni fees (not yet started) in outgoings was not a good idea. It's algorythm based. Removed allowances from income and outgoings and all was good.
Discuss with HSBC advisor - we were going to uk so met them in person, absolutely the best thing we did, when...

The estimated rental income did not come up to scratch by surveyor, they did a quick phone call and surveyor agreed to revise figure ( valuation was fine).

hsbc issue an offer (posted) and appoint a solicitor and instruct a valuation.

Papers from solicitor are electronically available but you have to send them back via mail . Also need certified copies of id and utility bills. We had to find a solicitor here and get them copied and signed at 150 aed each. (This is despite bank having copies handed over).

Now we wait for final confirmation of offer and paperwork from solicitor who works out figures...

Frankly I'll be relieved when it's over..., and we are house hunting here (rent) too.
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Old Aug 30th 2014, 6:55 am
  #18  
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Default Re: Mortgage for Non UK Resident..

Just started to look at mortgages myself and it's a royal pain. Current bank not willing to touch us with a barge pole and all other banks I have spoken to are not really interested
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Old Aug 31st 2014, 9:23 am
  #19  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by Opponent View Post
Just started to look at mortgages myself and it's a royal pain. Current bank not willing to touch us with a barge pole and all other banks I have spoken to are not really interested
just pay cash.
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Old Aug 31st 2014, 10:18 am
  #20  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by Opponent View Post
Just started to look at mortgages myself and it's a royal pain. Current bank not willing to touch us with a barge pole and all other banks I have spoken to are not really interested
If you have enough for a 20% deposit! and the property is under 500k, most banks should take your business
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Old Aug 31st 2014, 10:26 am
  #21  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by Millhouse View Post
just pay cash.
If I had that much spare cash I wouldn't be looking at mortgages.....
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Old Aug 31st 2014, 10:33 am
  #22  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by OriginalSunshine View Post
If you have enough for a 20% deposit! and the property is under 500k, most banks should take your business
I have 25% for a deposit and property prices are between 400k - 450k. Maybe I am not talking to the right banks, but as soon as I say non resident, they say that they can't accommodate us. I am referring to Halifax, nationwide etc

I have opened dialogue with barclays but their products are not the best

Any alternatives will be greatly welcomed.
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Old Aug 31st 2014, 12:03 pm
  #23  
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Default Re: Mortgage for Non UK Resident..

HSBC? I know there is a hate contingent out there for them, but in some aspects eg the Jersey branch, they can be ok
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Old Sep 1st 2014, 5:03 am
  #24  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by Greenways View Post
We are going through this process now as we need to change our mortgage to buy to let, our current lenders didn't offer this. Rightly or wrongly we are going with HSBC. Rate is significantly less than our current fixed rate even with redemption.

Process is not easy though.
Get premier account (never thought it was worth it before)
Two hour initial call - outcome was effectively willing to lend less than we needed, turns out that including housing allowance and prospective uni fees (not yet started) in outgoings was not a good idea. It's algorythm based. Removed allowances from income and outgoings and all was good.
Discuss with HSBC advisor - we were going to uk so met them in person, absolutely the best thing we did, when...

The estimated rental income did not come up to scratch by surveyor, they did a quick phone call and surveyor agreed to revise figure ( valuation was fine).

hsbc issue an offer (posted) and appoint a solicitor and instruct a valuation.

Papers from solicitor are electronically available but you have to send them back via mail . Also need certified copies of id and utility bills. We had to find a solicitor here and get them copied and signed at 150 aed each. (This is despite bank having copies handed over).

Now we wait for final confirmation of offer and paperwork from solicitor who works out figures...

Frankly I'll be relieved when it's over..., and we are house hunting here (rent) too.
I plan to revisit this week however I'm heading down much the same route as yourself. I filled out the application form for HSBC Expat (Jersey) and had all of the documents certified by HSBC Premier here in Qatar. Sent it via DHL (60 GBP!) only for them to find a spelling mistake so I have to do it all again. And I emailed it to them first for proof reading!
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Old Sep 1st 2014, 9:21 am
  #25  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by JamesandTamsin View Post
I plan to revisit this week however I'm heading down much the same route as yourself. I filled out the application form for HSBC Expat (Jersey) and had all of the documents certified by HSBC Premier here in Qatar. Sent it via DHL (60 GBP!) only for them to find a spelling mistake so I have to do it all again. And I emailed it to them first for proof reading!
When I opened my HSBC Jersey account at HSBC Abu Dhabi, all the paperwork went via their internal mail... didn't cost anything.
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Old Sep 1st 2014, 4:34 pm
  #26  
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Default Re: Mortgage for Non UK Resident..

Originally Posted by JamesandTamsin View Post
I plan to revisit this week however I'm heading down much the same route as yourself. I filled out the application form for HSBC Expat (Jersey) and had all of the documents certified by HSBC Premier here in Qatar. Sent it via DHL (60 GBP!) only for them to find a spelling mistake so I have to do it all again. And I emailed it to them first for proof reading!
That's painful! I think managing to do it in UK was the easiest way, after the hassle of the call centre. However we are still navigating our way through the Scottish solicitor requirements. Need to do proof of Dubai address..... but nothing we have has our names on it AND our residential address. Either our names but no adresss at all (du/etisalat) or no names and residential address (dewa/anything else) or names and work address. and they don't accept the tenancy contract. It's painful, very painful. Be prepared and good luck
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Old Sep 10th 2014, 7:55 am
  #27  
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Default British Expat needs Mortgage in England.

We are a couple who have been living and working in the UAE for the past two years. We are now looking to purchase a buy-to-let property in London (our home city). We have spoken to a couple of brokers in London, however the feedback was that most lenders see expats as a higher risk even with a 25%+ deposit.

We would like to know what the best way to do this is? Any feedback and advice will be highly appreciated.
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