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Hi everyone, I am a non-resident and a non-citizen looking on to investing on a property in UK. So I was wondering that if I pay cash 100% and I remortgage the property, there's a 6 months cooling period right? 1. So I would like to know if it is true that you cannot use the money from remortgaging and cannot be taken as cash? 2. In this case you can only use the money in investing to another property? Does that mean if I pay 100% in cash then remortgage a property, I'll have the 75% back which then has to be used to invest on 3 different properties given that 25% equity is required? 3. Is there a workaround with me having the cash from remortgaging so I can invest the money somewhere else? Would really appreciate your inputs and suggestion on this one. Thank you so much!
Re mo as an Expat
PaddyHorsington posted a topic in Mortgage AdviceHi there, hoping someone can help me with the following. I have been offered a job in Thai land and i'm conscious of the following: 1. All of my properties are coming upto requiring remortgaging next year (I have 3). All of them have 25% deposit- 75% loan. Will there be issues remortgaging with this LTV whilst i'm based abroad? 2. Also I would like to buy property when i'm abroad. What LTV are likely to be required as an Expat? What interest rates will I be looking at? Thanks in advance.