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Expat overseas, adverse credit
2 Posts
13/01/2021 - 10:22 am

Hi have worked overseas for many years, have a property currently in UK worth around 130k, wife retired (67) has UK pensions etc., I am 63 in full time employment in Middle East we would like to purchase a property around 200-220k final home, so looking for around 100k over 10 years. Wife’s credit record excellent, mine has a default from 2018 which was satisfactorily paid off then when put on, it was an overzealous move by bank. We had mortgages in the past up to 2018 from UK bank etc., but now getting no where just keep getting refused. Any suggestions? It fits many of the below categories, bad credit, expat, paid in foreign currency!

157 Posts
13/01/2021 - 10:25 am

Hi there,

None of what you have said would make this impossible, but the variables combined do make this incredibly tricky.

There are likely to be a few ways to facilitate this transaction, although will come down to the finer details of your case.

Who is likely to reside in the property whilst you are overseas working is likely to play a part in the solution also.

You are highly likely to require an experienced broker or a Expat specialist.

All the best

2 Posts
13/01/2021 - 10:26 am

Thanks for info, but have contacted so many expat mortgage companies (their words not mine) but how do I find or distinguish a broker or a Expat specialist? If you can explain how one find these it would be appreciated, thinking now that we will get all paperwork together and when back in UK try and find a Expat specialist and go and see personally and present case, have mortgage free property and the moment to sale which will provide around 130,000 deposit. Thanks

157 Posts
13/01/2021 - 10:26 am

No problem, Google will be the first stop no doubt although many will be nationally based.

You have a strong deposit, but before you commit any time to a broker I’d check they have suitable experience in this specialist field.

This is obviously going to be easier when back in UK for ease and time zone issues…

Best of luck

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