Lovetoteach Posted November 18, 2019 Share Posted November 18, 2019 Hi all, My husband and I are 75% certain that we are going to make a move back to the UK next year. Our son aged 18 feels that he would like to move back and our girls aged 11 and 12 are yet to start High school over here ( one starts next year). We feel that it is the only chance we will get to make the move in the next 10 years. We moved over here in 2004, but stayed only briefly before making the move more permanent in 2010. The kids and I have citizenship, but hubby hasn’t got round to it yet. We are still considering whether he puts in an application in the next few months, but aren’t to worried at this stage. Currently we live in Adelaide and it has been a lovely city to bring up the kids but we feel like we are running out of things to do. We’d like to see more of the world and believe the UK maybe a better place to do this from. Our parents are all in their 70s now so being a bit closer would also be a bonus. The things that worry me are the price of housing in the UK as we’d like to be in the South East and getting a mortgage. We don’t think we could afford to leave our house here rented out but are worried that it could take years for us to buy in the UK. Does anyone know the current waiting times to get a mortgages in the UK for new arrivals at the moment? Is it difficult to get a mortgage? Thanks in advance. Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 18, 2019 Share Posted November 18, 2019 Hi, I moved back end of June last year. By the following week i had an offer in principle for a mortgage at market rate from the Halifax. I had an ok deposit from the sale of my Aussie house, about 35-40%. I also had a job offer letter. This seemed to be all they needed. To open an account you’ll need an address and proof of living there. I used my aunts address and my UK driver’s licence was registered to that address so used that. Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted November 18, 2019 Share Posted November 18, 2019 (edited) 3 hours ago, Lovetoteach said: Hi all, My husband and I are 75% certain that we are going to make a move back to the UK next year. Our son aged 18 feels that he would like to move back and our girls aged 11 and 12 are yet to start High school over here ( one starts next year). We feel that it is the only chance we will get to make the move in the next 10 years. We moved over here in 2004, but stayed only briefly before making the move more permanent in 2010. The kids and I have citizenship, but hubby hasn’t got round to it yet. We are still considering whether he puts in an application in the next few months, but aren’t to worried at this stage. Currently we live in Adelaide and it has been a lovely city to bring up the kids but we feel like we are running out of things to do. We’d like to see more of the world and believe the UK maybe a better place to do this from. Our parents are all in their 70s now so being a bit closer would also be a bonus. The things that worry me are the price of housing in the UK as we’d like to be in the South East and getting a mortgage. We don’t think we could afford to leave our house here rented out but are worried that it could take years for us to buy in the UK. Does anyone know the current waiting times to get a mortgages in the UK for new arrivals at the moment? Is it difficult to get a mortgage? Thanks in advance. As long as you have the required deposit and a permanent job with the contract to prove it you should be able to get a mortgage (subject to not having negative credit) You don’t even need to wait for a probationary period to finish. The south east is expensive although it varies a lot depending on where. Some places are less desirable and that’s very much reflected in the price but still not cheap. Do you have an area in mind? Edited November 18, 2019 by Tulip1 1 Quote Link to comment Share on other sites More sharing options...
Lovetoteach Posted November 18, 2019 Author Share Posted November 18, 2019 2 hours ago, Tulip1 said: As long as you have the required deposit and a permanent job with the contract to prove it you should be able to get a mortgage (subject to not having negative credit) You don’t even need to wait for a probationary period to finish. The south east is expensive although it varies a lot depending on where. Some places are less desirable and that’s very much reflected in the price but still not cheap. Do you have an area in mind? Wow that's positive . We are looking at West Sussex but are fairly open to other areas. We'd like to be fairly close to London, an airport (my family live across Europe) and not to far from the sea. We would also like to be connected by train. We know there are cheaper areas and have already come to terms with the fact we'll be downsizing. Quote Link to comment Share on other sites More sharing options...
Lovetoteach Posted November 18, 2019 Author Share Posted November 18, 2019 3 hours ago, Tulip1 said: As long as you have the required deposit and a permanent job with the contract to prove it you should be able to get a mortgage (subject to not having negative credit) You don’t even need to wait for a probationary period to finish. The south east is expensive although it varies a lot depending on where. Some places are less desirable and that’s very much reflected in the price but still not cheap. Do you have an area in mind? 3 hours ago, Amber Snowball said: Hi, I moved back end of June last year. By the following week i had an offer in principle for a mortgage at market rate from the Halifax. I had an ok deposit from the sale of my Aussie house, about 35-40%. I also had a job offer letter. This seemed to be all they needed. To open an account you’ll need an address and proof of living there. I used my aunts address and my UK driver’s licence was registered to that address so used that. That's much quicker than I had thought. We are hoping that at least one of us has employment before we land. We still have a UK bank account that is still being used monthly so hopefully that will help as well. Unfortunately house prices where we live now haven't risen much, but hopefully we'll still be looking at a reasonable deposit. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted November 18, 2019 Share Posted November 18, 2019 11 hours ago, Lovetoteach said: That's much quicker than I had thought. We are hoping that at least one of us has employment before we land. We still have a UK bank account that is still being used monthly so hopefully that will help as well. Unfortunately house prices where we live now haven't risen much, but hopefully we'll still be looking at a reasonable deposit. It's odd really. If you've been away from the UK for a long time and have no credit rating, it's ridiculously difficult to do things like renting a flat, or getting a car loan - but mortgages seem to operate under a totally different system and you can get one very quickly. 1 Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 19, 2019 Share Posted November 19, 2019 9 hours ago, Marisawright said: It's odd really. If you've been away from the UK for a long time and have no credit rating, it's ridiculously difficult to do things like renting a flat, or getting a car loan - but mortgages seem to operate under a totally different system and you can get one very quickly. Agreed. I got a mortgage at advertised best interest rate immediately after being away 13 years but now after being back over a year I am offered a personal loan at nearly 3 times the best interest rate. I know they have a house to repossess with the mortgage but even so! I’m busy abusing a credit card to build my credit rating! 1 Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted November 19, 2019 Share Posted November 19, 2019 On 18/11/2019 at 21:35, Marisawright said: It's odd really. If you've been away from the UK for a long time and have no credit rating, it's ridiculously difficult to do things like renting a flat, or getting a car loan - but mortgages seem to operate under a totally different system and you can get one very quickly. Generally, as long as you don’t have negative credit, you can get a mortgage even with little/no credit history. The risk is less than with loans/credit cards because mortgages are secured lending. If you don’t pay your mortgage, the lender will get their money back by repossessing the property. So as long as you have no CCJ’s/adverse credit you’re usually ok. 2 Quote Link to comment Share on other sites More sharing options...
Parley Posted November 20, 2019 Share Posted November 20, 2019 On 19/11/2019 at 08:35, Marisawright said: It's odd really. If you've been away from the UK for a long time and have no credit rating, it's ridiculously difficult to do things like renting a flat, or getting a car loan - but mortgages seem to operate under a totally different system and you can get one very quickly. Well a bank takes a mortgage over a property and can sell it it you fail to pay. A Credit Card or Car loan may be difficult for them to get their money back if someone just takes off back overseas to Australia. 1 Quote Link to comment Share on other sites More sharing options...
Lovetoteach Posted November 24, 2019 Author Share Posted November 24, 2019 Thanks for all your responses it sounds quite positive. It took 4 years to get a mortgage here in Australia , I would hate to wait another 4 over there. Quote Link to comment Share on other sites More sharing options...
Vickie78 Posted November 24, 2019 Share Posted November 24, 2019 On 19/11/2019 at 18:13, Amber Snowball said: Agreed. I got a mortgage at advertised best interest rate immediately after being away 13 years but now after being back over a year I am offered a personal loan at nearly 3 times the best interest rate. I know they have a house to repossess with the mortgage but even so! I’m busy abusing a credit card to build my credit rating! Out of curiosity, what credit card did you manage to get? I will have to do the same once home. Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 24, 2019 Share Posted November 24, 2019 I got one with the Halifax as it was easier. My interest rate is high (they all are imo) but I have 6 months interest free on purchases and I pay it off each month anyway. I’ve managed to increase my credit score 18 points in 2 months! The only credit score agency I could find that would give me a score without 3or 6 years of addresses in the UK was credit monitor. I think they were on the money saving expert site, there’s an app you can down load and correct any incorrect information etc. Gives me a bit of an idea of where I’m at. 1 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted November 24, 2019 Share Posted November 24, 2019 2 hours ago, Vickie78 said: Out of curiosity, what credit card did you manage to get? I will have to do the same once home. This is a great site to explain all the ins and outs of credit ratings, how to get a credit card if you've got no score, etc. https://www.moneysavingexpert.com/ We had no credit rating when we moved back. We didn't try the Halifax but we did try several banks/building societies to get a credit card with no luck. We were thinking of getting one of the cards for people with bad credit (as suggested on the above site) but by that time, we'd decided not to stay so we didn't bother. 1 Quote Link to comment Share on other sites More sharing options...
Vickie78 Posted November 25, 2019 Share Posted November 25, 2019 Thanks Amber and Marisa. Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 25, 2019 Share Posted November 25, 2019 I still use the money saving expert site for all sorts of information. I get the newsletter by email so hear about all the latest best deals! Quote Link to comment Share on other sites More sharing options...
paulswin Posted December 7, 2019 Share Posted December 7, 2019 Hi we’ve been with in-laws since we moved back almost a year ago and have just bought a home. We bided our time saving a bit more money mortgage wasn’t too hard to get through Halifax and we’re 49 and 50 but we got it! My boys were 18 and 20 and luckily wanted to move back thankfully else I probably wouldn’t have come home! My boys have done well probably better I feel than if they had stayed in Oz one has a job with nationwide the other got an apprenticeship as a signaller with network rail so I’m pretty happy with that! Hubby struggled a bit with work but I think he was being too picky, me I went back into my old job as a teaching assistant! Houses have shot up in price but that’s just the way it goes! Am loving the countryside but do miss the beaches! 4 Quote Link to comment Share on other sites More sharing options...
Lovetoteach Posted December 30, 2019 Author Share Posted December 30, 2019 Thanks for the reply paulswin. It's positive you got a mortgage, my hubby is going to be 50 as well so that is good news. Shame about the house prices though. We'd like to live in the SouthEast and that prices look crazy. Unfortunately our house here won't have risen much over the last 5 years since we bought it. Quote Link to comment Share on other sites More sharing options...
Lovetoteach Posted December 30, 2019 Author Share Posted December 30, 2019 On 25/11/2019 at 17:36, Amber Snowball said: I still use the money saving expert site for all sorts of information. I get the newsletter by email so hear about all the latest best deals! Thanks for the tip. I will have to have a look. Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted December 30, 2019 Share Posted December 30, 2019 (edited) 1 hour ago, Lovetoteach said: Thanks for the reply paulswin. It's positive you got a mortgage, my hubby is going to be 50 as well so that is good news. Shame about the house prices though. We'd like to live in the SouthEast and that prices look crazy. Unfortunately our house here won't have risen much over the last 5 years since we bought it. You can potentially get a mortgage well beyond retirement. It depends if you have an income beyond state retirement age such as a private/work pension. If you do and affordability can be evidenced then the mortgage should be no problem. If you only have a state pension then a mortgage wouldn’t be affordable beyond that age Edited December 30, 2019 by Tulip1 Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted December 30, 2019 Share Posted December 30, 2019 1 hour ago, Lovetoteach said: Thanks for the tip. I will have to have a look. It’s a great site Quote Link to comment Share on other sites More sharing options...
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