15:16 PM, 23rd September 2022, About A year ago
Hi, I own 5 mortgaged rental properties in the UK. Since I am now living abroad I am concerned that when the mortgages are up for renewal, I will not be able to borrow at competitive rates.
I can only find a few lenders who will lend to expats and the rates are much higher than they would be for a UK resident.
And this would potentially make my property business nonviable.
Is there a work around for this? Eg, taking a UK based business partner / getting a mortgage in joint names?
I’ve got family living in the UK who I can trust in case that widens the available solutions.
Any advice would be appreciated.