Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Expat Mortgages

Expat Mortgages

Old May 2nd 2017, 2:01 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Jul 2016
Posts: 44
eg76 is an unknown quantity at this point
Default 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.
eg76 is offline  
Old May 2nd 2017, 2:09 pm
  #2  
Concierge
 
mikelincs's Avatar
 
Joined: May 2006
Location: ex ex-pat, in Taunton
Posts: 23,648
mikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond repute
Default Re: Expat Mortgages

Originally Posted by eg76 View Post
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.
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.
mikelincs is online now  
Old May 2nd 2017, 2:14 pm
  #3  
Forum Regular
Thread Starter
 
Joined: Jul 2016
Posts: 44
eg76 is an unknown quantity at this point
Default Re: Expat Mortgages

We haven't moved yet.
eg76 is offline  
Old May 2nd 2017, 2:23 pm
  #4  
Concierge
 
mikelincs's Avatar
 
Joined: May 2006
Location: ex ex-pat, in Taunton
Posts: 23,648
mikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond reputemikelincs has a reputation beyond repute
Default Re: Expat Mortgages

Originally Posted by eg76 View Post
We haven't moved yet.
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.
mikelincs is online now  
Old May 2nd 2017, 5:13 pm
  #5  
in Northern California
 
Joined: Apr 2014
Posts: 282
malch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond reputemalch has a reputation beyond repute
Default 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.
malch is offline  
Old May 3rd 2017, 12:47 pm
  #6  
BE Enthusiast
 
Joined: Nov 2012
Posts: 822
Cook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond reputeCook_County has a reputation beyond repute
Default 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.
Cook_County 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 - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.