View Single Post
  #3  
Old 07.10.2019, 10:34
peaky's Avatar
peaky peaky is offline
Senior Member
 
Join Date: Nov 2013
Location: zurich
Posts: 311
Groaned at 5 Times in 5 Posts
Thanked 195 Times in 111 Posts
peaky is considered knowledgeablepeaky is considered knowledgeablepeaky is considered knowledgeable
Re: Know any UK expat mortgage brokers for non-UK, non residents?

I looked in to it and found The Marsden Building society, L and C, Skipton, Safron Building society.

When I looked you would be looking at about 5-6% interest on a repayment mortgage, and thats only fixed for a few years. If the rates go up, and they dont have much room to go down, then the repayments start to get a bit cheeky.

On top of your calculations and criteria. You will need to earn about 125% in rent of your mortgage repayment. Which buying a property for 150k and having a mortgage of a 100k would probably be quite difficult to get enough rent to cover the mortgage and the extra 25%, so you'd need to be considering putting down 100-150k and having a loan of 100k, to qualify for a mortgage.

If you have 50k to put down, I would consider a cash purchase in the north somewhere, small place where the yield is still not bad, risk is minimal and avoid the UK banks
Reply With Quote