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Help! Looking for Secured Borrowing Against UK Property, Non-UK Resident

Last post Wed, Apr 11 2012, 3:50 PM by maxsteam. 3 replies.
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  •  Wed, Apr 11 2012, 3:50 PM

    Re: Help! Looking for Secured Borrowing Against UK Property, Non-UK Resident

    Rather than NatWest and RBS, you can try NatWestInternational and RBSInternatiional. Googling for "offshore morgage" will find other options. As stated, the criteria and charges will be more than for mainstream UK products.

    Something to consider if you regularly visit the UK and have a trusted friend or relative who will let you use their address is to get onto the electoral roll and try applying for a mainstream product. It might help if you changed the address for any UK credit card to that address. An independent mortgage adviser should be able to discuss the details and let you know if this is feasable.

    • Post Points: 5
  •  Wed, Apr 11 2012, 2:50 PM

    Re: Help! Looking for Secured Borrowing Against UK Property, Non-UK Resident

    Hi there,
    Thanks for your reply, it's most helpful. I have tried NatWest who I have my mortgage with already, and that's a no-go. I then tried Churchill over here who are also owned by RBS. I've also tried Nemo in the UK. Any other ideas?
    Thanks!
    • Post Points: 20
  •  Wed, Apr 11 2012, 3:04 AM

    Re: Help! Looking for Secured Borrowing Against UK Property, Non-UK Resident

    Most high street banks have offshore subsidiaries that will accommodate expats. Generally though, the criteria is stricter and the charges higher than for mainstream products.

    To qualify for most mainstream products, you would need a UK address and to be on the electoral roll.

    • Post Points: 20
  •  Tue, Apr 10 2012, 8:52 PM

    Help! Looking for Secured Borrowing Against UK Property, Non-UK Resident

    Hi there,
    Wondering if anyone can help me. I'm looking to borrow around £40k against my UK property (currently rented out). I have good equity in the property. However I'm currently living and working overseas, and this seems to be a problem with some lenders.
    Any suggestions?
    Thanks in advance.
    Lou.
    • Post Points: 20