My wife and I are retired and live most of the year at the moment in Zimbabwe. We still pay tax etc in the UK. We have a mortgage with the Halifax which is due to expire in 2014, which will have a balance of around £80000 at that time. We would like to sell and buy a flat but do not want to use our savings for this purpose. Can we get a mortgage at our ages (DOB 1947 & 1944) - We have pension income in the region of £30k, but we have additional income and assets in Zimbabwe.
Will it be your intention to live in the property or rent it out ?
Based on what you've said, lenders would classify you as an ex-pat, and as such you would fall outside of criteria for many of those lenders, however as John Charcol is an Independent, Whole of Market broker and we deal with those lenders who would be prepared to consider cases such as yours.
If you'd like to discuss your enquiry in more detail, then please let me know and I'll arrange for one of our consultants to contact you.
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Answers provided in response to Ask the experts 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 necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.