Posted on 29 January 2013 by Tina
I am an expat now living and working in the US, I own a property in the UK which my mother is currently living in however she is now going to move to the US to live with my family and I. I am looking to release less than one third of the capital on my UK property as a downpayment on a home in the US. I will be renting out my property in the UK once my mother has moved. What would be my best option to release the capital as soon as possible.
As the property is to be rented out once your mother has moved to the US, then I would suggest that a Buy To Let mortgage is the most favourable option. The only slight sticking point maybe over timescales, regarding how quickly after you've completed on the new Buy To Let mortgage would your mother be moving out ?
Also in the past few months the mortgage market for Ex-pat's has reduced slightly, so there is no longer quite the choice there was. However as John Charcol Charcol is an Independent, Whole of Market broker, we have some excellent relationships with those lenders who still manually underwite cases and can therefore judge each application on its merits, whether the borrower is UK residenet or Ex-pat.
If you would like to have an initial dicussion with one of our consultants to look at your options in more detail, then please let me know and I'll arranage a convenient time for one of them to contact you.
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