[Mike & Nicola]

Has anyone done this? Our 3 yr "Buy to Let" fixed rate ends in October (ouch) and I've just heard back from my UK financial advisor who advised to negotiate with our current lender as "remortgaging with a different lender, from NZ, will be virtually impossible" which is different to his opinion to when we left the UK..?

On the plus side, our lender is offering the best rates I can see anyhow, but I'm struggling to believe that you cannot change lender just because you're in a different country... There have been plenty of ex-pats before us who must have changed, or is it just the current climate that dictates this?

Has anyone else heard of this/re-mortgaged their UK house recently?

Cheers

Mike

[Incognito]

Hi,

I'm not in NZ yet but I have just been through a process of re-mortgaging from Singapore and it has been a nightmare!!!

The current climate has made all the UK lenders twitchy and as a result it is difficult. If your LTV is less that 75% (bear in mind the valuation may be low due to fall in house prices, our first was 30,000 less than expected) then you will probably be ok. However do expect that it will take a long time to finalise.

[James 1077]

You can remortgage to a different lender from abroad but as Incognito says the current climate in the UK makes it more difficult.

Your financial advisor would have been correct three years ago when he said that there would be no problems but, due to the credit crunch, there will be now.

You are best to start early with the negotiations as well so he is right in that respect too.

[irishliz]

We have just done it from NZ and if you want some more info please pm me. It was actually relatively painless but has taken a long time with postage. We got a reasonable rate from a reputable lender through Charcoal.

Let me know if you want further info.

[Mike & Nicola]

Thanks guys!

Liz I'll pm you - cheers

Mike