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[Ivan B]

Hello everyone. 

My name's Ivan. Originally from Bulgaria, I lived in the UK for 5 years before moving to China in late 2017. I am new to the Hub (and property investing) and it's been extremely informative and helpful so far.

I am at the beginning of my property investing journey and would appreciate any advice. My goal is to build an extensive property portfolio (both residential and commercial eventually) and create a stable passive income. During the past year I've managed to save up almost £25k and I'm currently speaking to mortgage brokers to find a good deal. I'm looking to invest in the Midlands and the Northern part of England (Birmingham, Manchester, Blackburn and the surrounding areas). 

So I found quite a few properties all priced around 60-65k but now the broker tells me it would be harder to get a mortgage because of the low property price.

Has anyone been in a similar situation trying to get a mortgage as an expat? I really appreciate your help guys. Once I have feedback from the broker I'll share it with you.

Have a wonderful day!

Cheers,

Ivan

[Tiffany B]

Hi Ivan

I am British currently living in Dubai and have recently gone through the process. The lowest purchase value we can get a mortgage on is £75k, and this was at 70% loan to value. We used liquid expat and they are very helpful.

Low value properties just simply aren't available to us unless you can be a cash buyer.

Hope this helps

Tiff 

[Ivan B]

Hi Tiffany,

Thank you so much for your reply. I hope your investing journey is going well! I will definitely contact that company you mentioned and hopefully I will get a good offer.

May I ask what interest rate you were offered? The one offer I've received so far came with 8.99% interest at 65% loan to value, which is quite high in my opinion.

Kind regards

Ivan

[Ivan B]

1 hour ago, tiffany b said:

Hi Ivan

I am British currently living in Dubai and have recently gone through the process. The lowest purchase value we can get a mortgage on is £75k, and this was at 70% loan to value. We used liquid expat and they are very helpful.

Low value properties just simply aren't available to us unless you can be a cash buyer.

Hope this helps

Tiff 

Sorry, I forgot to quote you!

 

Hi Tiffany,

Thank you so much for your reply. I hope your investing journey is going well! I will definitely contact that company you mentioned and hopefully I will get a good offer.

May I ask what interest rate you were offered? The one offer I've received so far came with 8.99% interest at 65% loan to value, which is quite high in my opinion.

Kind regards

Ivan

[Kent614]

15 hours ago, tiffany b said:

Hi Ivan

I am British currently living in Dubai and have recently gone through the process. The lowest purchase value we can get a mortgage on is £75k, and this was at 70% loan to value. We used liquid expat and they are very helpful.

Low value properties just simply aren't available to us unless you can be a cash buyer.

Hope this helps

Tiff 

Hi Tiff, 

What sort of interest rates were you looking at with those mortgages ?

I have struggled a bit with getting "reasonable" rates, so started looking at alternative funding strategies and investment approaches. 

[Tiffany B]

5 hours ago, kent614 said:

Hi Tiff, 

What sort of interest rates were you looking at with those mortgages ?

I have struggled a bit with getting "reasonable" rates, so started looking at alternative funding strategies and investment approaches. 

The rates will always be higher on expat mortgages unfortunately. We have one at 3.29% and Interest Only. We used liquid expat. 

[Ivan B]

On 6/4/2019 at 2:32 PM, tiffany b said:

The rates will always be higher on expat mortgages unfortunately. We have one at 3.29% and Interest Only. We used liquid expat. 

Hi Tiffany,

Is this a personal mortgage or through a limited company? I spoke to someone from liquid expat and they really are helpful. I'm waiting for them to come back to me with offers.

[Tiffany B]

20 hours ago, ivan b said:

Hi Tiffany,

Is this a personal mortgage or through a limited company? I spoke to someone from liquid expat and they really are helpful. I'm waiting for them to come back to me with offers.

This is a personal mortgage.