UK based mortgage for a US purchase...

[Petrus1983]

Does anyone have any experience/contacts for buying an overseas property? I had hoped to take out a US based mortgage, but they require a minimum of 2 years IRS returns. Any help would be appreciated.

[Petrus1983]

I was hoping to take out a mortgage in the UK against the purchase of an American home. There isn't a UK property I could mortgage/remortgage to raise the funds.

[Petrus1983]

Saleen836 said:

Google it!
It will show quite a few companies that specialise in this sort of mortgage.

I started with Google but notice their fee's variate quite widely, and whilst I don't mind paying for the right service was seeing if anyone had first hand knowledge of an adviser. Today I've started looking into expat mortgages based in the US, as like Sarnie points out the 'reach' they have for repossessions etc makes it difficult from the UK, and as expected the rates go up.... a lot!

[Petrus1983]

davepoth said:

What's the whole situation then? Are you moving out there permanently?

My advice is that if your income is in dollars, find a mortgage in dollars.

We'll be moving out to America permanently in the Summer of 2016, until then my income will be paid in GBP (& then change to USD). We have found a place we like very much (looks/districts/schools etc) which was last sold for 40% more than it's current asking price (which isn't uncommon where we're looking if things were sold circa 2010). I've been advised that even after my income switches to USD they'll (a mainstream US mortgage company) will require 2 years IRS returns for a mortgage, which pushes us to 2018+... which is getting quite a long time away!

If we could find a way to go for it we would, but at the same time if we can't then it's just meant to be.