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Saver

Unable To Get Mortgage Due To Having Worked Abroad

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Hello,

I was surprised my bank, Nationwide, told me I could not apply for a mortgage because my UK employer sent me to work in France for two years. They said they only lend to people who have been UK resident for the last 3 years.
Will this be the same with all mortgage providers or do people know of banks that will be less fussy about that? I have had the same UK employer for the last 10 years, so to me it seems a very odd rule because financially I am in an identical position to where I would be if I had not been seconded overseas.
Thanks,
Saver

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Hello,

I was surprised my bank, Nationwide, told me I could not apply for a mortgage because my UK employer sent me to work in France for two years. They said they only lend to people who have been UK resident for the last 3 years.
Will this be the same with all mortgage providers or do people know of banks that will be less fussy about that? I have had the same UK employer for the last 10 years, so to me it seems a very odd rule because financially I am in an identical position to where I would be if I had not been seconded overseas.
Thanks,
Saver

Nationwide are very very fussy about people who have been abroad for a whole range of stuff. I don't think all banks are the same though. I would ask a mortgage broker.

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try a different bank,

check out http://themortgagemeter.com/ , their servers seem to be down at the moment, but a good site to compare some mortgage interest rates, and then book an appointment with a different bank / building society...

personally, if you have good credit, I wouldn't bother with a mortgage broker, specially if they charge a fee, before you apply for a mortgage, check to see how good your credit is

either experian, equifax... you get 1 month free trial, so see if your credit is good before you go and see the mortgage people.

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try a different bank,

check out http://themortgagemeter.com/ , their servers seem to be down at the moment, but a good site to compare some mortgage interest rates, and then book an appointment with a different bank / building society...

personally, if you have good credit, I wouldn't bother with a mortgage broker, specially if they charge a fee, before you apply for a mortgage, check to see how good your credit is

either experian, equifax... you get 1 month free trial, so see if your credit is good before you go and see the mortgage people.

Yep I already checked experian and my credit score is extremely high. I didn't even apply to Nationwide, as soon as I told them "foreign address" they said I cannot have an apportionment to apply! Is there any way to find out which banks have this foreign address rule in advance?

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Why didn't you buy in France?

Best thing in my opinion is to go see an independent broker, they'll be able to offer you up a mortgage that suits your needs. The one we're currently using boasted that they could help us buy a property anywhere in the world, I should have asked about North Korea....

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Why didn't you buy in France?

Best thing in my opinion is to go see an independent broker, they'll be able to offer you up a mortgage that suits your needs. The one we're currently using boasted that they could help us buy a property anywhere in the world, I should have asked about North Korea....

I lived near Geneva - Swiss prices (in France)! No way I could afford it there (which is why all the french locals hate the swiss for buying all the properties up, whilst the Swiss hate all the expat bankers for buying all the Swiss properties and forcing them to live in France)

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  • 406 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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