Pete39

Hello, posted this in another forum but had no replies so I don't know if I should have posted it here instead????

Can anyone say if they have been in the same position please where they had an investment property in the UK at the time of moving over and have had a buy to let mortgage on it. Is there an issue with being overseas whilst keeping the mortgage going? Is there a way around as I am guessing you would have to advise the lender that you have moved.

Thanks

john in oz

I am a finance broker in OZ and have some knowledge on the Uk side of things as well as other legislation. There are no issues generally when maintaining a property rented out in the UK whilst you are away overseas.

If you maintain your regular loan repayments then there are no issues with the lenders generally. However you should be aware that some lenders when advised may change the status of your loan and increase the interest rate on your loan to reflect that it is now more of a investment loan. Others simply leave it at the current rates.

I hope that helps.

Pete39

Thanks very much for the reply - that does help me.