Applying for a UK mortgage after living in USA for 15 years

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Mar 22nd 2019, 1:40 am

Melonyjackson

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Applying for a UK mortgage after living in USA for 15 years

Does anyone have tips for trying to get a mortgage in the Uk? I’m resident in US but have bank accounts over in UK and some income there. I have a job over there and have been paid since Feb 2019. My income is not over £50k here so I don’t qualify for most expat mortgage companies but only want an 18% LTV mortgage house value 360k mortgage 65k. Any advice gratefully received

Mar 22nd 2019, 1:53 am

spouse of scouse

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Re: Applying for a UK mortgage after living in USA for 15 years

Quote:

Originally Posted by Melonyjackson

Although it's notoriously difficult to get a mortgage as an expat, you seem to be in a relatively strong position. If you haven't already tried it, I'd say a UK mortgage broker would be your best bet. Wishing you the best of luck.

Mar 22nd 2019, 1:22 pm

Tahiti_Bound

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Re: Applying for a UK mortgage after living in USA for 15 years

Plus one for using a mortgage broker (although it’ll cost you). I got my last mortgage through John Charcol - who I found to be pretty user friendly. Last time I spoke with them they seemed to be ok taking into account both US and UK income.

Mar 22nd 2019, 3:08 pm

vikingsail

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Re: Applying for a UK mortgage after living in USA for 15 years

Quote:

Originally Posted by Melonyjackson

Your biggest problem will be that you don't want to borrow enough. Most mortgage lenders even those through specialized brokers want to see a minimum of 100K borrowed. It's all caught up in admin and their potential for making money off of your interest payments. Plus borrowing such a small amount they know you are highly likely to pay it off fast. Good luck.