(edit title) Best banks for mortgage for new arrival to Sweden One income, 1+ dependents and UK mortgage still Options

[[email protected]]

Have you applied for a l?nl?fte from a bank yet?

Yes, that's what we have done with SEB, but because they are asking for letters of recommendation from our UK banks and certificates showing all our UK assets and liabilities, which will obviously take time we don't really have, I'm hoping to find another bank that isn't so picky.

[nicola4444]

[Mpf]

Try SBAB they are pretty good and offer good rates of interest.

SBAB

[Mib]

SBAB are offering the best rates, whereas SEB who were very competitive were raising theirs. The good thing with SBAB is that there is no BS negotiation to get a better rate ie. invest in an ISK or savings fund etc and we'll give you a bigger discount. This happens every time.

The ONLY problem I have with SBAB is that it takes ages to get through to speak to a human, especially when you have questions about the application, but once it's done, you can generally forget about it. You have online access, so that's good enough. SBAB is owned by the state, so should be quite safe.

Just go to their website, enter how much your property is valued, how much you need and you'll see the rate that you'll get if accepted.

[northernlad]

Thanks all. Was rejected by SBAB as the first 6 months of my contract are probationary. Am thinking of applying to SEB now though. But does anyone know if applying for multiple mortgages and thus having several credit checks can make you look like a bad / high risk credit? I know in some countries it can, but not sure about Sweden.

[Essingen55]

You need to be thinking about how your tax position, both in the UK and Sweden might be impacted by continuing to rent out your UK property and then selling it at a later date.

[wondering_again]

Thanks all. Was rejected by SBAB as the first 6 months of my contract are probationary. Am thinking of applying to SEB now though. But does anyone know if applying for multipl ... (show full quote)

Thanks all. Was rejected by SBAB as the first 6 months of my contract are probationary. Am thinking of applying to SEB now though. But does anyone know if applying for multiple mortgages and thus having several credit checks can make you look like a bad / high risk credit? I know in some countries it can, but not sure about Sweden. ... (hide full quote)

Try to talk to a bank first before doing the credit checks. Yes if you have many credit checks it will impact your ratings.

[northernlad]

Thanks Essingen55 - yes I know that capital gains tax is normally applied to money that you bring into Sweden from a property sale elsewhere in the EU (who knows what happens after Brexit?!). But I think I saw that if it's used to purchase a property in Sweden within a given timeframe it's not subject to capital gains tax? Does that sound right?

@ wondering_again - I had rung SBAB several times beforehand but they didn't mention this would be likely to be an issue. Hopefully: (i) other banks (SEB...) aren't so strict!; (ii) one more credit check wouldn't hurt too much.

[Essingen55]

yes I know that capital gains tax is normally applied to money that you bring into Sweden from a property sale elsewhere in the EU (who knows what happens after Brexit?!).

This is governed by the double taxation agreement between the UK and Sweden and won't change as a result of Brexit...the latest version is only a year or two old.

https://www.gov.uk/government/publications/...en-tax-treaties

I am far from convinced that what you say is correct.

[wondering_again]

Thanks Essingen55 - yes I know that capital gains tax is normally applied to money that you bring into Sweden from a property sale elsewhere in the EU (who knows what happens ... (show full quote)

Thanks Essingen55 - yes I know that capital gains tax is normally applied to money that you bring into Sweden from a property sale elsewhere in the EU (who knows what happens after Brexit?!). But I think I saw that if it's used to purchase a property in Sweden within a given timeframe it's not subject to capital gains tax? Does that sound right?

@ wondering_again - I had rung SBAB several times beforehand but they didn't mention this would be likely to be an issue. Hopefully: (i) other banks (SEB...) aren't so strict!; (ii) one more credit check wouldn't hurt too much. ... (hide full quote)

Can you try and talk to a local bank branch and build a relationship with someone there. Often it works better.

[robin]

Handelsbanken refused to transfer a mortgage loan from another bank to themselves stating the reason that they do not offer loans to people who have residence permit (or work permit) and do not have a permanent residence permit.

This sounded strange to me. Anyone else who had this issue?

[Essingen55]

This sounded strange to me. Anyone else who had this issue?

Why would that be strange? Offering a mortgage is a long-term commitment from a bank and if you don't have a permanent residence permit it sounds perfectly logical for them not to want to do it.