Second Property Abroad

Posted on 5 March 2011 by Steve

If I am a guarantor on a mortgage for a house in Singapore (property is only in my wife's name who is not a British citizen) but we wanted to buy a property in the uk, how would this effect the amount a uk bank would lend to us? Is there a limit to LTV? Would we need to even declare Singapore property? Would it be better from a mortgage perspective just to buy the uk property in my own name? Extremely complex...please help?


First things first, you do need to declare the second property, the mortgage and your guarantee.

As you are guarantor for the mortgage and as liable for payments as your wife I do not think it will make any difference if your purchase in joint or sole name. Either way the Lender will make an allowance for the debt and payments due on your Singapore property. Lenders will either deduct the monthly payment as a commitment or add the debt to the amount you want to borrow and check your income covers both.

I believe you would benefit from speaking to one of our independent mortgage advisers. Please call on 0344 346 3672 and tell the consultant the date and title of your question. They will be able to look at your situation and advise you accordingly.


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.

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