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rsadler

Setting up Ltd Company UK Bank Account When Living Overseas

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Hi folks,

We reside in Australia now but have established a UK Ltd Company for BTL property investments. We had opened an online TransferWise UK Company Bank account for our first property, in essence for rental income and loan payments, however are now going through our first BTL mortgage process and the lender advised TransferWise is not a bank and thus this account cannot be used. From what i know this is by definition correct as of writing this and thus have had to use our existing personal UK account in the loan application to service mortgage payments.

My question to this group is - has anyone been able to open a UK Ltd Company bank account with a high street bank while living permanently overseas? In checking the usual high street bank websites about this, we need to be living in the UK to open one and don't plan to be living back in the UK anytime soon.

I would appreciate insight from those in this specific situation how they resolved this issue?

Thanks and regards,

Ryan

 

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Hi Ryan, 

I'm new to Property Hub. It sounds like my husband and I are exactly the same position as yourself, in that we also live in Australia and want to purchase in the UK through a Ltd company (which we've not yet established). Just wondering how you're progressing with your journey and if you can provide any useful insight?

Thanks,

Jo

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