christmasoompa

Presumably you mean a Buy to Let mortgage? If so, then yes, as long as the rent will be enough, but I'd get it in place before you move personally, it's often hard/impossible to get a mortgage if you're not UK resident.

Sam 222

Thanks for your reply, no I'm not looking for buy to let mortgage, but I was thinking to add a Extra room and renovation in the future, may cost me about 40k ,not sure .
many thanks

christmasoompa

So what kind of 'secured loan' were you thinking of? Do you mean secured against something else other than your house? Or do you mean a normal mortgage? Sorry, but I'm really not sure what you're asking about, but any kind of loan you want to take out in the UK is going to require a UK income, so you'd need to sort it before you leave.

Sam 222

Hi ,I'm sorry, if I couldn't explain myself better, my English letting me down sometimes.
I would like to extend my flat, I just bought it 2 months ago, I need get some kind of loan, but not sure if I go for a secure loan against my flat now, or , apply for unsecured personal loan, (spoke to my mortgage provider Halifax, they say we recommend customers to apply for any credit 4-6 months, after mortgage. Thanks

Pulaski

I think we are just a little confused as to what you are seeking to achieve and why? You started off talking about leaving the country, with the inference that you would be either selling or renting out your home in the UK. But now you are talking about extending your home, and not necessarily immediately - so are you planning on leaving it empty when you go to live in Sweden? If so that will likely have insurance consequences, and quite possibly tax consequences too, as "having a home available" makes it much harder to end your "resident" status for tax purposes. But then if it's empty and you're living in Sweden, why would you extend it?

I am not sure what types of loans are currently commonly available in the UK, but you're basically asking about either a personal loan, which would be unsecured, or a second mortgage secured on the property (I am not sure, but I suspect that that might not be a common loan type in the UK), and I am also sceptical that unless you have fairly high income (well above average) that you'll get a £40k personal loan either, as that is a pretty tidy chinck of change. ..... My advice would be that remortgaging for the higher amount, to include money for the extension, would likely be the easiest and most cost effective route, but even that may be tricky if the lender gets wind of your plans to leave the UK. That said, I agree with Christmasoopa, that getting approved for any sort of loan in the UK (perhaps other than a buy to let mortgage) when you are living overseas is likely to be a non-starter.

Sam 222

Hi there, many thanks for reply, I talked to my bank, and booked a time with bank advisor. Thanks everyone here.