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Remortgage help please! BTL

Discussion in 'Teaching abroad' started by Tanlet, Aug 11, 2019.

  1. Tanlet

    Tanlet New commenter

    Help please!! I’m teaching abroad & have let my home for the last 12 months. My mortgage deal has come to an end and I’m now looking to remortgage with another lender (current lender won’t allow me to change to a more competitive rate). However, I’m having no joy in finding anything - despite using an independent mortgage broker. Please could anyone recommend expat friendly lenders?
  2. teacher1332

    teacher1332 New commenter

    I’d be interested to know on this one too, especially if anyone knows of any lenders who accept expatriate buy to let in a limited company.
  3. Basil_Fawlty

    Basil_Fawlty New commenter

  4. p1lchard99

    p1lchard99 New commenter

    I am very interested too. My deal runs out next March and I was told that I would basically not be able to change to another product with my existing lender. They also said I would likely have to get a buy to let mortgage as I am currently letting my property out. I did say that this is only for 3/4 years and then the plan is to return. They then said that a buy to let would not be suitable as I plan to live there in the coming years. Having looked about I could not find anyone that did an expat remortgage. Please let us know if you find anyone. If not I have to suck it up and go the variable rate which is an extra 200 pounds per month.!!!
  5. theintlteacher

    theintlteacher New commenter

    I had to do this last year. Send me a DM and I can tell you the broker I used in the UK.
  6. motorhomer

    motorhomer New commenter

    I'm currently about to let my house in the U.K. I'm on a tracker so I've just thrown some money at the mortgage as an overpayment and now I'm going to switch to a 10 year fixed deal. After that I'll inform my mortgage provider & request their consent to let. As far as I can tell, they give anyone on a residential mortgage consent to let their property but add 1% to the interest rate. Not ideal but I'll just keep chipping away at it with 10% over-payments each year.

    If I were in your shoes, I'd consider maybe ending the tenancy & then maybe take a long-term fixed deal before requesting consent to let again. I guess there is also nothing to stop you from misinforming them either...
  7. p1lchard99

    p1lchard99 New commenter

    I don't have the DM feature on my profile yet or the 'start a conversation'. Are you able to DM me to start it?

    Thanks so much
  8. fordseries123

    fordseries123 New commenter

    The company I use seem to pretty good. They have a reasonable fee and the BLT mortgage rate they quoted me was good (under 3.5 percent) however I guess that all depends on your circumstances, credit history and equity in your property. PM me for their details.


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