NLIC.org

Mae Said:

Can anyone reccommend a reputable UK Buy To Let Mortgage lender?

We Answered:

Check out www.npda.co.uk.

Its the national property developers association so I'm sure someone there will be able to advise you.

You can become a member (for free) and ask in the forum.

Hope this helps!!

Holly Said:

Are diamond lifestyle any good as a mortgage lender in the uk?

We Answered:

There are better ones out there:

http://www.mirror.co.uk/news/mirrorinves…

Diane Said:

Buying a property in America (UK mortgage or US mortgage lender?)?

We Answered:

With dual-citizenship status, you <presumably> have a Taxpayer Identification Number(TIN) already, so - if your credit is good - it should be no harder obtaining a mortgage with a US lender than it would be with one in the UK.

Real estate is always market-specific, so depends upon which area you are looking to purchase in. Most of the country is currently in a "buyer's market", so there are deals to be had, but some of the more popular resort/tourist areas continue to hold their value, or post small gains or losses. Several of the cost considerations you must undertake to determine where, and whether or not, to buy will be location-specific.

Interest rates are not frozen for the next 5 years, but are currently at near-record lows here in the States. Interest rates *are* typically higher for investment properties. As for your having to, "...deal with sending money overseas every month if it isn't rented year round..." well, either way - you certainly wouldn't have the renters sending the rents directly to the mortgage company would you!! Using an electronic direct debit system, it wouldn't matter which country the lender was located in, just make sure the appropriate currency conversion rate is applied, since you will have to pay the monthly mortgage anyway.

Deposits on US mortgages vary widely (there are even programs for 100% loans at a higher interest rate), but buyers usually try to deposit at least 20% of the loan amount in order to avoid something called "PMI " - which is extra insurance that lenders require from most Homebuyer's who obtain loans that are more than 80 percent of their new home's value.

There are federal - and often times, state - income tax and other tax ramifications on properties held for investment as well, but with your citizenship status, you should be able to avoid FIRPTA.

There is much more to consider, including your researching the topic of "Buyer's Agency" in order to have someone advocate your side of the transaction. Remember, the listing (seller's) agent is legally bound to represent the best interests of the seller. A BA will look after your best interests and typically won't cost you anything, as they are paid in a commission split with the seller's agent at closing. Ensure the estate agent you deal with is experienced with International transactions and has a strong network of associated professionals to call in on your behalf.

More resources at cabinquest.com -> Buyer Resources -> International Buyers

Hope this helps, and Good Luck!!

Connie Said:

can I change my mind about my mortgage lender without losing my mortgage? UK?

We Answered:

Hmm... depends.

How long ago was the offer issued by Nationwide? If it was issued a while ago, it may expire before your application bears fruit with Abbey. Read your offer, there should be a bit which states the final date by which you have to complete on the mortgage. Previously, lenders have been willing to renew offers to extend this deadline, but in this volatile market, they're not really doing it anymore. Ask him to clarify, this may well be the reason. I've never heard of a lender withdrawing an offer just because you subsequently applied elsewhere.

For the sake of a saving of £500 over 2 years though... would you really say it is worth running the risk? That's a little over £20 a month. Abbey could turn around and say no for any number of reasons while your deal with Nationwide expires, and if I were you, I'd weigh up the potential saving against the potential risk of losing the deal with Nationwide, and I'd stick with what I have already.

Go for the application if you wish, but if you hear nothing decisive from Abbey quickly, make sure you have put the arrangements in place with Nationwide to complete before the deadline.

Brandy Said:

which UK mortgage lender will give self-employed people a mortgage?

We Answered:

Try the Nat-West, they did self cert.at one time, not too sure about now but well worth a try- best of luck.