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UK expat looking to buy property in UK.

Discussion forum for expats moving to or living in the UK.

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UK expat looking to buy property in UK.

Post Posted: Mon May 07, 2018 11:19 am

Hi there people,

I'm currently seeking some advice or resources that will help me clarify what sort of requirements or issues that I may face attempting to buy property back in the UK.

I have been living in New Zealand for 4 years now, whilst occasionally going back to the UK. Last time was for 3 months and I worked briefly whilst there...

What I would like to do is get onto the property ladder by buying and leasing a home in the UK, but with the intention of staying and working in NZ. It would solely be an investment but also my first time buying.

I understand there are a number of initiatives for first-time-buyers and mortgage types etc. What I'm trying to find out is, what problems, if any, could I face if applying for a mortgage in the UK with the intention of leasing out?

I have a good credit history, deposit and UK passport etc. I'm assuming it would be possible to use my full-time position in NZ as collateral of security and credit history here in NZ?

Has anyone had any experience in buying property for the first time but as an expat?

Any help or tips would be much appreciated.

Many thanks. Charles

 

charlie87
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Re: UK expat looking to buy property in UK.

Post Posted: Mon May 14, 2018 3:50 pm

- charlie87

Hi there people,

I'm currently seeking some advice or resources that will help me clarify what sort of requirements or issues that I may face attempting to buy property back in the UK.

I have been living in New Zealand for 4 years now, whilst occasionally going back to the UK. Last time was for 3 months and I worked briefly whilst there...

What I would like to do is get onto the property ladder by buying and leasing a home in the UK, but with the intention of staying and working in NZ. It would solely be an investment but also my first time buying.

I understand there are a number of initiatives for first-time-buyers and mortgage types etc. What I'm trying to find out is, what problems, if any, could I face if applying for a mortgage in the UK with the intention of leasing out?

I have a good credit history, deposit and UK passport etc. I'm assuming it would be possible to use my full-time position in NZ as collateral of security and credit history here in NZ?

Has anyone had any experience in buying property for the first time but as an expat?

Any help or tips would be much appreciated.

Many thanks. Charles

Hi. I Just lost everything I just wrote - as I tried to send computer crashed.

Here goes but in a much shorter version. Feel free to connect to ask any further questions.

Aussies expats living these past 3 years in UK. Previous 15 years we lived in USA where we purchased and sold 2 houses. 1 was purchased 3 months after relocating to live no work in USA. 2nd property was purchased just 14 months later.

Here in UK unless you've got every penny of your property purchase in CASH you'll have to wait 3 years / 1 month from opening a Bank account to qualify for a Mortgage or even simpler things like purchasing of a car; store credit and even a Cell Phone account. You'll be forced to rent like us.
We've only just got our credit rating report last month. Currently Rental payments are not included

Note: unlike OZ/NZ & UK where Landlord is responsible for payment of the annual property Council Rates. In UK; Tenants must pay this bill. A advanced monthly payment plan can be organised.

We lived our first 12 months in Cardiff, Wales and the previous 2 years living and hubby working in Reading, Berkshire, England: RG301HX. However, Landlord relocated to OZ as we moved into their property in March 2016. Their now contemplating selling this property; ifvthatvhappens, come September we plan to move to Isle of Dogs, London,E14 0AA. The Welsh are super friendly and Sociabke. As too the Scotish. However, not do much the English. Their sociably friendly but not interested in forming Social relationships. As a sociable person; I'm struggling with this, despite joining a variety of groups and attending numerous events and hubby and I even volunteered.

Although Reading is a outer suburb of London; Inner London has a active Aussie / NZ Expat group.

So hope this helped. Please don't hesitate to drop us a line for a chat or any questions or concerns you and your family may have going fwd. when and where is your plans to live in UK. We are middle aged Empty Nesters without pets. So until we anchor down into a mortgage; we enjoy flexibility to move area. In a way I'm Glad we rented first; as it's always raining and overcast in Wales and Readings too boring and unsociable for us 2 Sydney City Slickers. We love London a lot.

 

AussieDreamer
Newbie
Newbie
 
 
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