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Mortgage - overseas property

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  1. #1

    Join Date
    Nov 2016
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    193

    Mortgage - overseas property

    Anyone know whether lenders in HK commonly offer mortgages for purchasing UK/US property?

    Or particular providers in the UK that are good for expat mortgages?

    Thank you in advance!


  2. #2

    i might get slammed for using these four letters but HSBC is actually pretty good in this aspect for cross country borrowing.


  3. #3

    Join Date
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    Quote Originally Posted by aussie_oi_oi_oi:
    i might get slammed for using these four letters but HSBC is actually pretty good in this aspect for cross country borrowing.
    @Cwbguy and a couple of others have suggested that you'll have better luck dealing with their expat banking team.

    https://www.expat.hsbc.com/1/2/hsbc-...pat/contact-us
    garychopper likes this.

  4. #4

    Join Date
    Mar 2008
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    All of the above is true and correct advice.

    I bought a couple of commuter belt studios 2 years ago and despite promises from UK based lenders there were real problems and basically many had restrictions on the sizes and locations that they would lend to an overseas based non-british national.

    If you have an HSBC Premier Account then ask to speak to their Expat Team - it is a painful experience completing forms online to HSBC in UK / Jersey over and over and be prepared to stay up late to talk to the right people in UK.'

    However, when all said and done it was arranged & I have no problems with them.


  5. #5
    Original Post Deleted
    does it show up on your hk credit record with transunion?

  6. #6

    Join Date
    Nov 2016
    Posts
    193

    Thanks everyone.

    Contacted Liquid Expat Mortgages - let's see what they come up with - I hear they are the largest expat mortgage provider though.


  7. #7

    Join Date
    Jul 2013
    Posts
    21

    Summary of my experience of buying a property in the UK in 2016 (may not be relevant to everyone):

    Set up:
    - British citizen residing in HK since 2013;
    - Holding an account with HSBC in HK;
    - Holding an account in a UK bank with a HK address as my correspondence address (not important).
    - Left UK for HK in 2013, so 5-year credit history search at the time of mortgage application was still catching my residential address back in the UK (may be important).

    Result:
    - In 2016, took on online mortgage with HSBC PLC (UK), LTV 25:75, bought a property in the UK without setting foot in the UK.

    As of summer 2016, HSBC PLC was one of the few if not the only UK bank who offered mortgages to people receiving non-GBP denominated income.

    Process:
    - Filled an online mortgage application on HSBC PLC website; did not use mortgage advisors; got pre-approval (automated);
    - Chose a property in the UK (my friends viewed it for me); demonstrated pre-approved mortgage to the sellers, took the property off the market;
    - Chose and signed an agreement with UK solicitors; send them by courier certified copies of my and my wife's passports (certified by the UK Consulate-General);
    - Proceeded with proper online mortgage application; uploaded scans of documents (payment slips, bank statements, employer letters);
    - Contacted HSBC Expat here in HK (although technically not their client), they were very helpful: they certified the copies of my passport and proof of address, and send it to HSBC PLC in the UK via internal mail;
    - Made numerous calls to HSBC PLC morgtage team and paid numerous visits to HSBC Expat team herein HK to make my case officers and the certified copies of my ID documents meet;
    - Mortgage approved;
    - Fees paid;
    - HSBC PLC transfers funds to solicitors, solicitors complete the deal and help register property title.
    - Set up a direct debit with a UK bank to make mortgage repayments.

    That's it. In total, 3-4 months time.


  8. #8

    Hello, my husband is a British citizen residing in HK, our case is similar to yours and we would like to invest a buy-to-let property with mortgage from HSBC. We tried the online application from HSBC UK but it's rejected due to our residency in HK, different from yours.

    We contacted the HSBC expat HK and found that it needs to open a Jersey account of no less than £60,000 savings as a supporting guarantee for the mortgage. We found that is ridiculous as my husband has most of his saving in HSBC HK, it's no point to open one more foreign account with such a big sum of money. Do you face the same situation?

    Hope you can help and share your experience on this. Thank you.


  9. #9

    Thank you. We will try to contact the guy. By the way, you said you used Liquid Expat Mortgages. Is it from HSBC buy-to-let mortgages or other types of mortgages?
    Thanks for your great help.


  10. #10

    Hi everyone, seeking your advise on what is the best mortgage / financing for a second UK property investment. My situation:
    - Working and living in HK
    - Dutch national
    - Currently owns 1 existing property in UK, fully self-funded (can potentially use the equity)
    - HSBC premier customer
    I've seen HSBC expat and Liquid mortgage being mentioned, but have zero experience with both. What would you recommend in my case to get financing done a good deal?

    Thanks a lot


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