Go Back  British Expats > Living & Moving Abroad > Moving back or to the UK
Reload this Page >

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
  #1  
BE Forum Addict
Thread Starter
 
Joined: Dec 2004
Location: A land far far away
Posts: 1,149
Wave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond repute
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.
Wave the Sails is offline  
Old Jun 20th 2007, 7:50 am
  #2  
Forum Regular
 
Joined: Mar 2007
Location: yorkshire
Posts: 108
gettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant future
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.
gettingthere is offline  
Old Jun 20th 2007, 8:23 am
  #3  
BE Forum Addict
Thread Starter
 
Joined: Dec 2004
Location: A land far far away
Posts: 1,149
Wave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond repute
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.
Wave the Sails is offline  
Old Jun 20th 2007, 1:04 pm
  #4  
BE Forum Addict
 
woodyinoz's Avatar
 
Joined: Aug 2005
Location: Home and proud to be British
Posts: 1,035
woodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond reputewoodyinoz has a reputation beyond repute
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.
woodyinoz is offline  
Old Jun 20th 2007, 1:09 pm
  #5  
Homebody
 
Joined: Jan 2005
Location: HOME
Posts: 23,174
Elvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond repute
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!
Elvira is offline  
Old Jun 20th 2007, 3:11 pm
  #6  
Forum Regular
 
Joined: Mar 2007
Location: yorkshire
Posts: 108
gettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant futuregettingthere has a brilliant future
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!
gettingthere is offline  
Old Jun 20th 2007, 6:23 pm
  #7  
Ping-ponger
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,001
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
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.
dunroving is offline  
Old Jun 20th 2007, 6:37 pm
  #8  
Senior Moment
 
Mitzyboy's Avatar
 
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Mitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond repute
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.
Mitzyboy is offline  
Old Jun 21st 2007, 5:18 am
  #9  
BE Forum Addict
Thread Starter
 
Joined: Dec 2004
Location: A land far far away
Posts: 1,149
Wave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond reputeWave the Sails has a reputation beyond repute
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?
Wave the Sails is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.