kevinmcc

Hi,

I am looking at moving to UAE, I currently have a Shared Ownership Mortgage in the UK. I was going to staircase to 100% and take full ownership, however my bank is looking for a 20% deposit, was 10% when I took the initial share!

Therefore I think it may be best that I sell this, and save in the UAE, I'm just wondering is it possible to get a mortgage whilst working in the UAE on a UK property?

Meow

Yes it is, but you will need a decent deposit, say around 20%. Ideally you'll be working for a recognised company for a while and have a good track records. Underwriting has got harder for non-residents but my contacts can arrange UK mortgages for non-residents.

I hadn't even realised that DIYSO schemes still existed!

kevinmcc

Thanks for the help. The company is reputable, how long would I need to work for them in the UAE before I would be considered? I currently work for them in the UK, would that make it easier?

Meow

Probably 3-6 months, depending on your contract. I checked after posting yesterday and unless considering certain new build you are likely to require a deposit of 25%.

Norm_uk

25% sounds about right now for non-resident UK mortgages.

Did you buy the property as an investment or as a home?

N.

emmaandre

i think that you have to take idea from some professional property dealers...