jenninedinburgh

My husband and I moved to the US around 2.5 years ago (we are dual citizens of the US/UK). We are considering buying a property in the UK (shame we sold before leaving, but hindsight and all) for our summers/winter breaks from school (we are educators). We kept our UK bank accounts with HSBC. Does anyone know if we can use our US income if we were to apply for a UK mortgage?

Anything else we need to consider besides also paying council tax and utilities in our costs each month along with the mortgage?

Thanks in advance for any experiences, things to consider

Hotscot

https://www.privatefinance.co.uk/mor...ational-buyers

jenninedinburgh

Thanks - did you use this firm? If so, what was your experience?

Hotscot

No. I've not done anything like that, thought about it and decided it would be too much hassle practically and financially to not much benefit if any.
Why do you want to? Just curious.

Funnily enough someone was just asking about the opposite direction, being in the UK and buying in the US.

jenninedinburgh

Just miss Scotland really. As educators, we have about 4 months each year where we don't have to be at the office. It would be nice to spend those in Scotland as it gets a bit stifling hot where we are in the south. I've also been researching (for a few years now) buying in other European countries. I however keep circling back to Edinburgh as it is a place I very much love (but SO expensive). I figure if I can get one on a 15-year mortgage, I can have it paid off by the time I retire. I can then keep it or sell it and just treat it as an investment.

We've done the Airbnb thing quite a bit. It gets kind of old and the irritated stares/glares from neighbours gets old too (and who could blame them really..I would not want to live next to a flat that constantly had different people staying in it).

Hotscot

I hear you. My wife is a teacher.
When we go back we usually travel around Europe for a week or two and then a cottage rental for a week in Scotland.
Works out pretty good.

When we retire were thinking of six months to a year at a time in select European countries.

I wouldn't want the hassle of a property sitting empty for most of the year.

jenninedinburgh

Yeah, this is a really good idea. My husband and I often think of a couple we met in Fuerteventura from Canada. This is exactly what they did. They rented a place for 4.-6 months every year and then returned to their home. A good idea too as you can go many places rather than being stuck with one. I love Edinburgh so much though, I would not mind using it as a base to hop over to the continent for shorter trips. Perhaps it's my old(er) age, but I just love sleeping in my own bed

Hotscot

You'll be doing plenty of that when you are no longer able to travel...
Seize the day.

spouse of scouse

I came across an article today that made me think of this thread. I have no knowledge of the product and no idea if it's a good deal or not, but thought it might answer some of the OP's questions https://www.mortgagestrategy.co.uk/c...ortgage-range/