I am non domicile in UK but am a US citizen living in USA now. I have a property in London which is rented with a buy to let mortgage variable rate. If the the interest rate become to high in the near future and I can no longer sustain the cost of the mortgage should I try and sell it or hang on until the market improves if I can.What if I can not sustain the costs any longer?? I have a property in US with a large mortgage 90% which is Homesteaded under Texas law which protects it. Similar to Florida Law. Is there a law firm for dealing with cases where the bankrupt is non domicile and needs questions answered pertaining to there specific case?
good question. think you are going to need to contact one of the experts direct
Paul at RevivaUk deals with lots of overseas people, domicile and residents and will be able to answer your questions.
The question of selling the property, Now or later, depends on you and your belief of the UK property market and how well you can sustain the mortgage payments. The level of equity may have a bearing on your direction.
Historically higher interest rates have also had an effect on the house price increase.
we definatly have a shortage of UK housing stock, which will push the price up but when ?
I am non domicile in UK but am a US citizen living in USA now.
Posted - 16 April 2010 : 11:50:36
