Expat Mortgages
#1
Forum Regular
Thread Starter
Joined: Jul 2016
Posts: 44
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.
Does anyone have any experience of remortgaging in the UK from overseas? Are there any providers that are worth talking to?
Thanks.
#2
Re: 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.
Does anyone have any experience of remortgaging in the UK from overseas? Are there any providers that are worth talking to?
Thanks.
#3
Forum Regular
Thread Starter
Joined: Jul 2016
Posts: 44
Re: Expat Mortgages
We haven't moved yet.
#4
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.
#5
in Northern California
Joined: Apr 2014
Posts: 284
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.
#6
BE Enthusiast
Joined: Nov 2012
Posts: 902
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.