Can I buy a second property when I'm living and working overseas?

Posted on 1 September 2007

I am a UK citizen living and working overseas. I already have a UK property with no mortgage. I would like to buy another. Who can provide me finance? I am also a Citibank customer.

 

Hello Philip,

 

You should not have too much difficulty: we often deal with expatriates buying from abroad. You just need to have a chat with a mortgage advisor to establish what your intentions are and what sort of deposit you would be putting down.

Accord, Bank of Scotland, BM Solutions, Kent Reliance, Edeus, Mortgage Express, Mortgage Trust and Natwest, Northern Rock, Norwich and Peterborough, Royal Bank of Scotland, Scarborough, the One Account, The Mortgage Works, and West Bromwich all list expatriate lending as a standard, and almost all of the other lenders have a note saying 'refer to lender' which means that they will consider it depending on the size of the deposit and what you want to do with the property: i.e. let it or keep it as a holiday home or for family.

On a practical note, I would use a broker just so there is someone else dealing with all of the paperwork here.

Katie

Category: Second properties

 

Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

Question