I am working for an international company based in London. There is an opportunity for me to move to the US branch permanently, which means my salary, benefit & tax…. etc. will also be based in the US. My question is, if I want to get a property in the UK, will it be difficult for me to get a mortgage now that I don’t have UK-income and pay UK taxes?
Only a UK lender can answer that.
March 1st, 2010 at 12:07 pm
Only a UK lender can answer that.
References :
Former mortgage broker
March 1st, 2010 at 12:33 pm
Yes, it will be difficult but not impossible.
References :
March 1st, 2010 at 1:02 pm
The answer to your questions is yes, subject to you satisfying particular mortgage lending criteria. There are various high street lenders here who offer what are known as offshore mortgages. These lending arms specialise in offering mortgages to people in your particular scenario.
You will be assessed on what your income / expenditure scenario currently is and the lender will wish to see evidence of your current employment and salary. It is possible for you to secure residential and buy to let mortgages. In order to be able to qualify for a residential mortgage a direct family member will need to be residing in the property upon you receiving ownership of it.
If you wish to let the property out, therefore obtaining a Buy To Let mortgage, the proposed rental income for the property can also be taken into account when assessing the affordability of the loan to yourself.
I suggest you seek independent mortgage advice with an independent mortgage broker as they will be able to fully assess your current scenario and explain in detail what options are available to you.
http://www.wwfp.net/mortgage/mortgage-broker.html
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.unbiased.co.uk
References :
Peter McGahan, Managing Director, Worldwide Financial Planning.
Peter has been a financial adviser for twenty years, the last eleven as a fee based Independent Financial Adviser. He now analyses the markets and products for the advisory team at Worldwide. Worldwide have won sixteen FT Adviser awards over the last four years. Most noticeably for borrowers is mortgage adviser of the year for 2005,2006,2007