Louisek Posted July 11, 2014 Report Share Posted July 11, 2014 Hi, Has anybody managed to get a Buy to let mortgage on their UK home when moving to Oz. I have tried 2 mortgage advisors and worked on the basis of honesty is the best policy and told them my situation and every mortgage company that both advisers use have said they wont go near me because I am moving to Oz. I have seen it in magazines and on the relocation TV programmes that they say to rent your UK house out if you can afford it but never heard of a company that will do it?!?!?! Has anybody had the same situation or managed to get a Buy to let mortgage in my situation?? Or do I simply accidentally forget to mention the fact I am moving to Oz? Please help! Quote Link to comment Share on other sites More sharing options...
Druid Posted July 12, 2014 Report Share Posted July 12, 2014 We have been here for 2.5 years now and have been trying to sell our UK house, we gave up last week and agreed with the estate agent to rent it out, we called Santander told them what was happening and for 1% of our mortgage we can get a permission letter to allow tenants in our house, so try going down that road first! we are not switching to a buy to let mortgage. Quote Link to comment Share on other sites More sharing options...
Raychelsb Posted July 12, 2014 Report Share Posted July 12, 2014 We are in the exact same situation . We've had to get consent to let from hsbc which only lasts 12 months and then we have to re-apply. We can't get a buy to let either. The plan for us is to get settled out there with jobs and then apply from over there for a btl and hope that once they see we have income coming in plus tenants already in the house, someone will give us the mortgage! Quote Link to comment Share on other sites More sharing options...
flatpack Posted July 12, 2014 Report Share Posted July 12, 2014 If you have a 30% deposit or equity I know of a broker who specialises in Buy to Let mortgages. I have dealt with him for 15 years and he has knows his onions, I regularly recommend him and everyone thanks me for it. If you want his number PM me. Quote Link to comment Share on other sites More sharing options...
SaffanZimbo Posted July 15, 2014 Report Share Posted July 15, 2014 We will be renting out our home when we leave later this year. I phoned our bank (First Direct) and they agreed to let us rent out the house for 39 months (from the date of the call) on the same terms and conditions. They mentioned it was because we have over 40% equity in the house but that at the end of the 39 months we have to switch to BTL rates. We are hoping to sell the UK house after 2 years once we have decided on which area of Perth to settle SOR/NOR. Quote Link to comment Share on other sites More sharing options...
Druid Posted July 15, 2014 Report Share Posted July 15, 2014 We will be renting out our home when we leave later this year. I phoned our bank (First Direct) and they agreed to let us rent out the house for 39 months (from the date of the call) on the same terms and conditions. They mentioned it was because we have over 40% equity in the house but that at the end of the 39 months we have to switch to BTL rates. We are hoping to sell the UK house after 2 years once we have decided on which area of Perth to settle SOR/NOR. Just be aware that if you buy here in Aus before you sell in the UK, you will be subject to capital gains tax when you sell in the UK, also get a few estate agents around to give you a valuation of what your property is worth now (or just before you move) the more the better, you will need this when it's time to sell, Santander charged us 2.5K for that privilege Quote Link to comment Share on other sites More sharing options...
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