kimbap

does anyone know any good buy to let mortgages for nonresident brits? we are renting out our home, our mortgage is ending and we need a new one. but now that we are not living at our flat nor even living in the uk nothing seems available to us. anyone have any ideas? thanks so much. we are getting kicked out of our mortgage in a few weeks as it was only for home owners living in their home. we mistakenly revealed all and are now forced to look for something else (our most recent return says we are non-res in UK so it's hard not to admit it to any new lender)

killerhales

Try Grant (surname?) at :

ADS Mortgage & Financial Planning
80 Bank Street
Maidstone, Kent, ME14 1SD
01622 693636
http://www.ads-financial.com

He arranged a mortgage for us with the Halifax. Needed 25% deposit.
I can't remember if it was formally a buy-to-let mortgage but we got permission for a tenant without any problem.
Fees are a bit high but ultimately we couldn't have done it without him.

Good luck

Schbang

I'm at the final stages of remortgaging a UK property, which is let out, and have chosen to go with Lloyds TSB International, rates seem very good, and better than the onshores BTL rates available in the UK and so far their service has been fantastic, good luck. http://www.lloydstsb-offshore.com/in...nal-mortgages/

ps. I have also previously purchased a UK property from overseas with the help of a 'Expat Mortgage Broker, and to be honest, for the amout of work they needed to do I regretted the extra 1300 GBP, their services ended up costing, so this time around I've gone direct to the lender.

dunroving

I got one from these guys when I was living in the States:

http://www.mortgagetrust.co.uk/porta...00730a650aRCRD

- pretty easy to work with.

kimbap

thanks so much. i went to their site and it said they don't lend to expats. not sure if this is a new policy but i thought i'd let anyone else who is using this thread know what i've found out as i find past threads very helpful!

kimbap

thanks so much. i called and i'm pretty sure i've found the right person, grant banks. their fee for mortgages is 500 pounds but the only other product i've found looking myself will charge us 1.5% plus another 1000 in fees direct from the bank so if he can get us 600 less than the 4000 we are looking at and a comparable rate it will more than pay the fee!!!

kimbap

thanks so much. I've called them and i am waiting to see what they find.

dunroving

OK, I know they actually cut out any new BTL loans for a while following the banking debacle, then re-opened for new business among much fanfare a year or so later. (these banks' marketing sections have some neck - they are all ripping off mortgage borrowers at the moment but you'd think from their marketing that they are a charitable public service agency ..

I think their major lender is Paragon - you might try their site also (I think Mortgage Trust are just brokers, not actually lenders - the non-expat policy may be a Mortgage Trust policy rather than Paragon). Worth a try.

kimbap

i just double checked and sadly for me it is a paragon policy.
right now we can only find a woolwich product with insanely high fees. boo hoo.

Personal details
• Applicant(s)
Applications will be considered for up to four individuals who should have been resident and liable to tax in the UK for a minimum
of the last 2 years.
All applicant(s) must have indefinite leave to remain in the UK.
Applications from expatriates will not be accepted.
At least one applicant must be the owner of a residential property or residential investment property.

dunroving

Beat me to it! I was just about to paste this from their application form:

Personal details
• Applicant(s)
Applications will be considered for up to four individuals who should have been resident and liable to tax in the UK for a minimum
of the last 2 years.
All applicant(s) must have indefinite leave to remain in the UK.
Applications from expatriates will not be accepted.At least one applicant must be the owner of a residential property or residential investment property.
• Age at application
Minimum: 21 years
The applicant(s) should not normally be over state retirement age at the application date.
The applicant(s) should not be over 80 years of age at the end of the mortgage term.

expatdon

I am in a similar position and I found these guys via Google this evening: www.liquidexpatmortgages.com based in Manchester. Have you tried them?

ble

Hi

we have our non resident mortgage with Birmingham Midshires.
Organised for us while living in NZ via our mortgage broker.

This was done in early 2008 so they may not lend any more to expats. But might be worth a look.

moonsurfer

The site http://www.international-mortgage-pl...gage_rates.htm might be of some help if it's still up and running. Cheers

BrightontoBoston

I have been in discussion with this company. Fees are high, but they have supposedly got an approval in principle from a lender.
I googled there address, and it seems it's someone working from home, I am a little cautious to proceed further, anyone else used them? They have some testimonials on their site, and a facebook page (with no real testiments on it).

kimbap

Wirelessly posted (NokiaE71x/ATT.03.28 Mozilla/5.0 SymbianOS/9.3; U; [en]; Series60/3.2; Profile/MIDP-2.1 Configuration/CLDC-1.1 AppleWebKit/413 (KHTML, like Gecko) Safari/413)

i have been in discussion with them too!!! They found a much better product than anyone else. I don't mind the high fee as what we will save over the course of the loan is much more but i am wary of their wanting 350 before the loan is completed. Maybe we shld talk. I have found little abt them but they are registered with the FSA: I checked the register. Don't know how much that means though. Shld we talk? PM?