Expat Mortgages
 

Currently in the process of moving to the US from the UK. We have a (mortgaged) UK property and are looking to take some capital out of it to use as a deposit to buy in the US.

Does anyone have any experience of remortgaging in the UK from overseas? Are there any providers that are worth talking to?

Thanks.

Re: Expat Mortgages
 

Are ylur current UK mortgage company aware that you no onger live in the UK, if not as soon as they find out you may have some problems and have to pay more. I suspect that it will be very difficult to remortgage your UK home while you are living overseas.

Re: Expat Mortgages
 

We haven't moved yet.

Re: Expat Mortgages
 

You asked about remortgaging from overseas, which is what I answered, the fact that you haven't moved yet makes little difference, it will be very difficult to remortgage a UK property to get money to use to buy an overseas property, your bank/building society will be very wary.

Re: Expat Mortgages
 

When I moved to the USA I was able to take out a dollar denominated loan from NatWest secured against my UK property. We used that money as part of the downpayment on a US home. It wasn't a mortgage but the rates weren't horrible and we paid it off fairly quickly so it worked out well.

Re: Expat Mortgages
 

Do bear in mind that if you re-mortgage while a US resident that you will need to recognise a large US taxable foreign currency gain because of the fall in the value of Sterling since your mortgage first started. Do whatever you need before becoming US resident.