Hi all,
I'm thinking of moving back to the UK and have seen a great house. Has anyone ever got a mortgage in the UK based on a Swiss income? If so who did you use?

Many thanks

the banks seem to have problems with non-residents taking mortgages. also if you are letting the property, not all have BTL licences. best bet is to call up the different banks and checking.

After spending the last hour on the internet it seems I need an expatriate mortgage. I have reached the same conclusion. Just work my way down the list of high street banks and see where I end up by lunch time.

Hmmm it's slightly tricky and the banks will want clarifications...

First: you say you're moving to the UK, when? and will you be earning the same / equivalent money in GBP?

Two: is the house going to be let out while you still live in Switzerland? if so then you are gonna be looking at a Buy-To-Let.

Three: Which currency do you want the mortgage to be denominated in? Since you say you're moving back to the UK i'd say GBP but if you're going to be here for the next five years it might be worth considering a foreign-currency mortgage, however you are then exposing yourself to currency fluctuations.

Finally, you are not going to get competitive rates as only a few banks specialise in such mortgages. The rates are not fixed and with interest rates likely to rise over the next five years and the housing market is a bit touch and go in the UK it is a bit of a gamble...

Anyway here is the link to loyds international in HK that I've been in touch with regarding a foreign currency mortgage. The other provider was Barclays who said they wouldn't bother with anything with a value less than half a mil quid.

You're best bet is to find a fairly priced house or less if possible and fix the rate for as long as possible (obviously you don't wanna fix at higher than 4%)

You could use Lloyds Tsb International we have recently used them, i have an email address if you like.

I think you'll find I beat you to that lol

But lloyds Hong Kong why go there
I just had email of my adviser i used. lol

That's where Lloyds International HQs are...

Anyway here are some more details I digged out from an email...

Lloyds International Mortgages
PO Box 19
Evergreen House
Circular Road
Douglas
Isle of Man
IM99 1AT

Tel: +44 (0) 1624 657223
Fax: +44 (0) 1624 644100
lending@bankofscotlandint.com

The European one is in Gibraltar

It's fair to say they're probably not based in the UK for sure

Anyway back on topic now

My situation is that we have 25k (GBP) deposit. The house is 125k. Our initial plan had been to wait then buy AFTER we returned home in January. But there's this house that perfectly fits the bill and I was looking at buying it so it was ready when we returned home. I don't have a job sorted in the UK just yet although I'm sure I'll find work. Worst comes to worst then I live with the inlaws I suppose

Deposit might be a bit low for a BTL unless you manage to get the house for 100k instead

If you're defo going back to the UK, why the rush? Doubt the house will be sold with xmas coming up and everything unless it's worth a lot more!

There wasnt a rush until I saw this house Next target is to get onto the zentralstelle to apply for my pension back in cash. I hate admin days

Leaving your job will be an issue for securing a mortgage. Furthermore, residential an BTL mortgages are different - criteria and deposits required. I would advise going first, getting a job thEn applying locally

Just to update. I am now back in the UK. They won't take into account anything I did in Switzerland. However, I secured a 1 year maternity post as a teacher. The mortgage advisor says as soon as I have 3 months payslips I can apply (and should get) a mortgage offer. Also Zurich still say that I can transfer my 2nd pillar contributions back to the UK for a deposit on the UK property.

That's great news. Congrats on your move. So what happened to the house you were looking at? Still for sale?

I've been watching Escape to the Country & I think I want to escape to some of those houses too!

Yup the house is still for sale. Just need no one else to buy it for another 9 weeks

Glad you are enjoying being back. Which part are you in? Bonne chance.

Where on earth in the UK do you find THE perfect house for 125K?

Fingers crossed for you!