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Can you get a mortgage after being away over 2-3 years?

Can you get a mortgage after being away over 2-3 years?

Old Jun 20th 2007, 4:27 am
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Default Can you get a mortgage after being away over 2-3 years?

How easy is it to get a mortgage in the UK if you've been overseas for some time?
I presume you can't just go back to the people you used before?
What if you don't have any work history overseas?

Any advice gratefully received.

Mrs.J.
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Old Jun 20th 2007, 7:50 am
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Default Re: Can you get a mortgage after being away over 2-3 years?

Not easy but can be done after about 6 months, need to show work history, utility bills etc you have for any loan at all now even if you are self cert a mortgage. If you have no work history presumably then you have savings, IMO the larger deposit you can get together the better say a minimum 25%. However the good news is that you can still be credit checked here as you ahve been away such a short time but likely will need to be back the 6 months before you get a mortgage unless you have a huge deposit.
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Old Jun 20th 2007, 8:23 am
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Default Re: Can you get a mortgage after being away over 2-3 years?

Originally Posted by gettingthere
Not easy but can be done after about 6 months, need to show work history, utility bills etc you have for any loan at all now even if you are self cert a mortgage. If you have no work history presumably then you have savings, IMO the larger deposit you can get together the better say a minimum 25%. However the good news is that you can still be credit checked here as you ahve been away such a short time but likely will need to be back the 6 months before you get a mortgage unless you have a huge deposit.

Thanks for that. When you say huge, what do you mean?
Would we be ok with 50-67%, which is what we would hope.
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Old Jun 20th 2007, 1:04 pm
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Default Re: Can you get a mortgage after being away over 2-3 years?

I can only comment on our situation.

Oversea's for 3 1/2 yrs. Returned to the UK in Jan. Hubby on a 6 month contract and me part time. Secured a mortgage after 1 month. (4 x wage with only a 10% deposit.)

Northern Rock was who we got our mortgage through. Good luck.
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Old Jun 20th 2007, 1:09 pm
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Default Re: Can you get a mortgage after being away over 2-3 years?

Originally Posted by The Jones Family
How easy is it to get a mortgage in the UK if you've been overseas for some time?
I presume you can't just go back to the people you used before?
What if you don't have any work history overseas?

Any advice gratefully received.

Mrs.J.
Try this website - they have a mortgage calculator facility:

http://www.charcol.co.uk/

The Motley Fool is another useful finance website, particularly the discussion boards:

www.fool.co.uk

HTH!
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Old Jun 20th 2007, 3:11 pm
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Default Re: Can you get a mortgage after being away over 2-3 years?

a 60%mortgage with a 40% deposit should be fine as long as you can prove income! yes you can get a mortgage almost anyway these days but if not careful you will find that you could be paying way over the odds for set up fees and interest which is not ideal!
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Old Jun 20th 2007, 6:23 pm
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Default Re: Can you get a mortgage after being away over 2-3 years?

Originally Posted by The Jones Family
How easy is it to get a mortgage in the UK if you've been overseas for some time?
I presume you can't just go back to the people you used before?
What if you don't have any work history overseas?

Any advice gratefully received.

Mrs.J.
After 23 years away I got an offset mortgage with Woolwich/Barclays.

Make sure you are registered to vote - otherwise they can't do a credit check on you (i.e., you essentially don't exist).

They didn't care about my jobs overseas, they were more concerned about my salary in my new job in the UK and the likelihood it is permanent.
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Old Jun 20th 2007, 6:37 pm
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Default Re: Can you get a mortgage after being away over 2-3 years?

I live in Spain, am a Spanish resident, and am currently arranging a mortgage in the UK for a property I am going to buy over there.
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Old Jun 21st 2007, 5:18 am
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Default Re: Can you get a mortgage after being away over 2-3 years?

My OH is Self-Employed so presuming we'll have to do a Self-Cert?
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