Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

UK Mortgage when you live abroad?

(4 Posts)
ReasonablyIntelligent Sat 02-Jan-16 17:17:29

Hi all,
I moved to Germany for work in Oct 2015 (a Nanny) and rent a room in the UK where I return at least once a month to visit friends and family.
I live in the house where I work in Germany so don't pay rent there, I'm registered with the local council, have a German bank account and pay taxes in Germany.
I have a UK bank account, residential address and pay several bills (phone bill, car insurance, car tax etc) in the UK.
I'll be honest, I'm not 100% sure what my residency status is, but I suspect it is German.

I really want to get back on the property ladder this year, my salary is high enough (76,000 EUR pa basic) and I will have enough for a significant deposit on a house (20-30%).
I would like to buy a house and let it out whilst I'm living abroad.

Does anyone have an idea as to how difficult it would be for me to find a mortgage as I don't live in the UK?

(I'm going to chat to a mortgage advisor soon but really struggling to find info in the mean time).

ChilliMum Sat 02-Jan-16 17:25:39

It's really difficult which is why you are struggling to find information. We were in a similar position we needed to remortgage a property we owned in the UK but are not resident. The lowest interest rate we could find was 5.7 % it was only for 2 years and we would have had to go through the whole arrangement process again.
Speak to a good mortgage advisor they will talk you through it.

ReasonablyIntelligent Sat 02-Jan-16 17:28:14

Thanks, ChilliMum.
I suspected it would be something like that sad how frustrating!
I don't have any financial responsibility in Germany but I guess banks see these things a little differently!

Butterfliesprettybutterflies Sat 02-Jan-16 17:43:13

We did it a few years ago and it was tricky but do-able. We went through a specialist expat mortgage broker. But before you go down that route I'd check on the hmrc website what your residency is - I just had to do it for my tax return and it has been changed recently. I've always been categorically non-resident but this time it was actually pretty close and if you've been UK resident for a certain number of previous tax years you might find you're still UK resident irrespective of where you are spending the most time so it might be a non-issue. it's not the most interesting of reading though I'll warn you!!

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now