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A bank that does either expat or non residency mortgages

PADDYOS

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Feb 28, 2011
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#1
Good morning, I am looking for a bank that will give me a mortgage for someone working overseas 9 months of the year, has anyone got any good info. Thanks Paddy
 

Starlight

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#2
If I'm not very much mistaken, the rules have changed, in that, if you've got a mortgage/property/family etc, then you have an interest in the UK and cannot claim non res.

My understanding is that the rules changed to stop the mega rich avoiding vast amounts of tax. However, I suspect that they still avoid vast amounts of tax.

Whittackers will be able to advise....
 

CJ-PROTECT

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#3
Hi Paddy,

Tom Fielding - Fielding Financial Services in Abergavenny has done lots of these and knows what lenders will be able to assist those Non Res.

He is a friend and also my own personal IFA

Tom Fielding
Fielding Financial Services Limited
Independent Financial Advisers

Raglan Chambers, 63 Frogmore Street, Abergavenny, Monmouthshire, NP7 5AU Tel: 01873 856716 Fax: 01873 855863 Skype: tom.fielding Fielding Financial Services LTD
 

Starlight

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#4
Hi Paddy,

Tom Fielding - Fielding Financial Services in Abergavenny has done lots of these and knows what lenders will be able to assist those Non Res.

He is a friend and also my own personal IFA

Tom Fielding
Fielding Financial Services Limited
Independent Financial Advisers

Raglan Chambers, 63 Frogmore Street, Abergavenny, Monmouthshire, NP7 5AU Tel: 01873 856716 Fax: 01873 855863 Skype: tom.fielding Fielding Financial Services LTD
Any chance he can put up a brief lay person's synopsis of the current non res rules?
 

CJ-PROTECT

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#5
Hi Starlight,

Tom is the IFA so he does the mortgages and investment stuff, Anna & Whittakers are still the people on the Tax side and of course if you need the insurance sorted then I might know a man who can!

We do lot's of presentations together so I feel I have a reasonable understanding of the non res rules, but I will ask Lee or Anna to put something together.

They changed things at the high level for those really taking the mick, but ultimately in this industry in those challenging parts of the world - it's still 90 days max in the UK during the tax year, holidays count as days out. So if you get your 6/6 8/4 you just take more holidays and Roberts your Mothers Brother. BUT if you fail by a single day Tax is due on the lot so you have to be organised and in regular work, that's the hard bit!

I have loads of clients who really make it work, house(s) in the UK, money coming back into the UK, partner at home, pension / rental income made and taxed in the UK (but you have a £10K allowance anyway) and some on a cracking day rate making them some great money.

The key is if you fail on the days, you need to have made the provision and it sadly appears that most people don't, then the smelly stuff hits the fan as your back in the UK , looking for work and you have blown your money, knowing full well the tax bill will hit you later / next year.

James
 

PADDYOS

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#6
Yes the rules have changed some IFA are saying that you need to pay tax, and why Do you have you a dollar account etc
 

LeeWhittakerandco

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#7
Hi Paddy,

There are varying circumstances regarding Non-residency with ties to the UK where you can still claim Non-res tax free income and have a mortgage.

If you want to PM me I will provide contact details for my colleague at Whittaker & Co who is our Non-resident specialist.

Starlight - again if you would like some info about Non-residency in relation to your personal circumstances please PM me.

Regards,

Lee
 
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