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

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

Old Mar 22nd 2019, 1:40 am
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Default 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
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Old Mar 22nd 2019, 1:53 am
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Default Re: Applying for a UK mortgage after living in USA for 15 years

Originally Posted by Melonyjackson View Post
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
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.
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Old Mar 22nd 2019, 1:22 pm
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Default 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.
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Old Mar 22nd 2019, 3:08 pm
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Default Re: Applying for a UK mortgage after living in USA for 15 years

Originally Posted by Melonyjackson View Post
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

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.
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