Scottish Properties - Lender needed for UK citizen residing in US

[scottish007]

Hello All,

Can anyone recommend a lender that will provide mortgages to a UK citizen currently resident in the US in order to purchase investment property in Scotland?

I currently reside in the US, and have done so for more than a decade. All of the properties will rented out.

Thank you very much for your assistance!

Paul

P.S. Moderators, if I posted in the wrong forum, please move me. I am brand new to the forum and overwhelmed with so many wonderful choices

[BuyHawkeye]

You need loans for properties in the UK? Or do you need loans here to pull cash out to buy properties in the UK? I am a touch confused.

[scottish007]

You need loans for properties in the UK? Or do you need loans here to pull cash out to buy properties in the UK? I am a touch confused.

Sorry. You are correct, I was a little confusing. I have the investment funds available, no need for a US loan.

What I need is a loan(s) secured on the property in the UK; presumably from a UK bank, or offshore bank.

Make sense?

[BuyHawkeye]

Sure does! Nope, can't help you... Sorry.

Don't you guys have some funny rules about owning more than one property in the UK?

[scottish007]

Sure does! Nope, can't help you... Sorry.

Don't you guys have some funny rules about owning more than one property in the UK?

Yes, and no. I can own one property with an "ex-pat" mortgage that infers that I will return to the country to occupy that property at some point in the future. In the mean time, I can rent the property. I am actually closing on a property with that type of mortgage shortly.

"Buy to let" is the rental market. There are funny rules about how many you can own, but those rules are not that difficult to address.

[avonreal]

you'd find it hard to get a UK mortgage if you live in a different country and i don't think a US bank will borrow you money for an abroad property. an option would be to remortgage your own house and raise the cash for the investment property.

[scottish007]

you'd find it hard to get a UK mortgage if you live in a different country and i don't think a US bank will borrow you money for an abroad property. an option would be to remortgage your own house and raise the cash for the investment property.

I actually did find a UK bank that provided a mortgage. I am working with the same bank to fund additional rental property. It's working out so far!

Thanks for the input!