blog

The Impact of credit reporting on ex-pat mortgages

Written by Sam Jones on 19 September 2012.

Whether you have relocated to Australia or Africa with the whole family and are now outside the UK, it is likely that you will need an ex-pat mortgage.

More than 400,000 people leave the UK every year, and with the last few summers being so dismal, who can blame anyone for wanting to move abroad somewhere warmer.

However, on moving out of the UK, changing address and utilities, this is likely to effect your UK remortgaging, or re-purchasing in the UK. Many lenders look unfavourably on someone with weak credit history and the computerized systems of most lenders now don’t discriminate on good payers or bad payers. If you are outside the UK, the report is weak. Don't panic though - if you have a weak or no credit history, then there is no need to book your plane tickets just yet to come back to the UK.

While it will be more difficult for you to find an ex-pat mortgage, there will be some lenders out there who will still give you a mortgage - you will just have to look that bit harder to find them.

Alternatively, you could instruct a ex pat mortgage advisor to do it for you. Capital Fortune know the market inside out, so they know exactly where to go to find a deal that suits your circumstances. Visit www.capitalfortune.com or call 020 77 100 400 today.

 

Add comment


Security code
Refresh

Latest News