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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!!

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