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luke85

Mortgage Advice Needed, Resident In Germany Buying In Uk

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Some of you may remember that around 12 months ago I moved to work in Germany. I have been a resident here for almost exactly 12 months and during thet time I have been paying German income tax and spending many weekends back in the UK. My initial plan was to keep saving up for a few more years before buying but the perfect house has come up for sale at just below the 2004 price. The house is on for £180k and I have a £30k deposit. My earnings are 45,000 euros PA plus regular bonusses of 10,000 euros.

However I am having problems finding any bank or building society which will offer a mortgage to an expat in Germany. I intend to keep working here for a few more years while my girlfriend lives in the house back in the UK, I generally return to the UK every other weekend and also for around 10 weeks holiday a year.

Does anyone know who might offer something to suit me? I will be paying the mortgage in pounds because my wages are transferred straight to the UK at the end of each month.

Thanks in advance

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Some of you may remember that around 12 months ago I moved to work in Germany. I have been a resident here for almost exactly 12 months and during thet time I have been paying German income tax and spending many weekends back in the UK. My initial plan was to keep saving up for a few more years before buying but the perfect house has come up for sale at just below the 2004 price. The house is on for £180k and I have a £30k deposit. My earnings are 45,000 euros PA plus regular bonusses of 10,000 euros.

However I am having problems finding any bank or building society which will offer a mortgage to an expat in Germany. I intend to keep working here for a few more years while my girlfriend lives in the house back in the UK, I generally return to the UK every other weekend and also for around 10 weeks holiday a year.

Does anyone know who might offer something to suit me? I will be paying the mortgage in pounds because my wages are transferred straight to the UK at the end of each month.

Thanks in advance

Sounds like you are already a tax resident of the UK, or will shortly be one, I guess you need to do a UK tax return on your world wide earnings....

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You're going to buy a house in the UK, when you're living and working in Germany (45,000 euros PA plus regular bonusses of 10,000 euros), only to come back and use your UK house purchase at weekends?

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You're going to buy a house in the UK, when you're living and working in Germany (45,000 euros PA plus regular bonusses of 10,000 euros), only to come back and use your UK house purchase at weekends?

Sounds strange when you say it that way, but yes thats pretty much it. My girlfriend will be living in it full time after a little work (its been empty for a year) and its the perfect house for us at a great price. Then I plan to move back in around 2-3 years, the move to Germany was just for the money, but after -43 years I will have made enough and want to settle down

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You're going to buy a house in the UK, when you're living and working in Germany (45,000 euros PA plus regular bonusses of 10,000 euros), only to come back and use your UK house purchase at weekends?

Lots of people doing that is why housing demand always exceeds supply.

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Sounds like you are already a tax resident of the UK, or will shortly be one, I guess you need to do a UK tax return on your world wide earnings....

What do you mean by this? Will I end up paying tax on the money I have earned in Germany then transferred back to the UK? I have no earnings coming from the UK other than around £350 pear year in interest

Also in my previous post I meant to say 3-4 years, not -43!

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Lots of people doing that is why housing demand always exceeds supply.

It shakes my belief in the next crunch being not one of lack of credit availability, but one of less demand to take on the debt. They're still wanting to lap up the debt. Although in this instance, at what appears to Luke as a price of value. Perhaps such a home will be available to buy in 3 to 4 years in UK at even better price Luke?

Are you not enjoying life in Germany, outside of your work? Nothing that takes you interest, places to travel to, and enjoy your free-time and weekends over there?

All sounds very expensive coming back each weekend, and then the prospect of doing so for a house that stays empty most of the time, but where council tax and insurance needs to be paid, together with other risks of leaving a house empty for long periods. Sorry I'll withdraw here because I don't know anything about mortgages. Just wanted to establish a few things to which you've explained your main position.

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What do you mean by this? Will I end up paying tax on the money I have earned in Germany then transferred back to the UK? I have no earnings coming from the UK other than around £350 pear year in interest

Also in my previous post I meant to say 3-4 years, not -43!

UK tax residence is based on the no of nights your in the UK & your connections to the UK. Sounds like a 110 nights a year on a regular basis. You have somewhere available to stay......sounds like you could be ordinarily resident. Were you or your father born in the UK or have UK passports?

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UK tax residence is based on the no of nights your in the UK & your connections to the UK. Sounds like a 110 nights a year on a regular basis. You have somewhere available to stay......sounds like you could be ordinarily resident. Were you or your father born in the UK or have UK passports?

Yes myself and my parents were all born in the UK and I lived there all my life up till last year. I still have my UK bank accounts registered at my parents house. I dont spend 110 nights in the UK per year though

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I get 6 weeks plus bank holidays which I think is the norm here. The other 4-8 weeks are from me taking my overtime back as holidays, so far this year I had all of June off just from overtime I did on one 6 week project.

With regards to Venger, I do still expect average prices to be down in 3-4 years. But the property we had seen is from a distressed seller looking for a fast sale and would be perfect for us. As I say, the price is back to around the 2003 level and I think that's as much as I could hope for realistically.

Anyway it seems none of the main banks offer anything for expats unless you have £50k (not including your deposit) because you have to be a "managed customer"

I have tried a few online brokers and will update this thread in add anyone is interested in the future

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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