As an Ex-Pat can I raise a mortgage on a property I own in the UK?
Posted on 6 March 2014 by Nigel
I own a property worth about £300,000. This property is mortgage free. I currently live overseas and the property is rented out. I would like to take out a mortgage of £100,000 on the property. Am I likely to have any issues with this as my only UK income is my rental income?
Unfortunately as an ex-pat you will be faced with a restricted number of lenders available to you, however there are still still sufficient options open to you, particularly at such a low loan to value.
Typically lenders who look at ex-pat cases tend to want you to have a UK bank account, and to be able to see that there's no adverse credit in the background. The rate itself can also be influenced by your employment status, and the country you are currently living in.
If you would like to discuss this in more detail then please contact one of our mortgage experts on 0344 346 3672 who will be happy to help you.
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