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    HenryT's Avatar
    HenryT Posts: 2, Reputation: 1
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    #1

    Feb 3, 2008, 02:22 PM
    Can I transfer/swap my mortgage to a different country?
    I was wondering if this is possible, I currently have a mortgage with HSBC bank and I'm looking to migrate to Australia. There is a HSBC there, and I was thinking is it possible to swap my mortgage, or do a trade in type thing and get a house in Australia?
    I need to migrate rather quick and don't have time to sit and wait for sale as this may take years. Any help appreciated:)
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    Feb 3, 2008, 02:58 PM
    Why don't you find a surrogate to take care of your affairs and rent your home until it can be sold.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 3, 2008, 03:22 PM
    No, since a swap means someone has to take your property, ( and it can't even be done) you will have credit with them, since you have this loan, so you merely need to sell this property for enough money to pay your loan off
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Feb 3, 2008, 03:27 PM
    You MIGHT be able to transfer your mortgage servicing to Australia, but I don't see what good that does you. That doesn't swap your property. I think Tickle's suggestion of leaving the task in the hands of an agent makes the most sense.
    HenryT's Avatar
    HenryT Posts: 2, Reputation: 1
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    #5

    Feb 4, 2008, 03:11 PM
    Quote Originally Posted by ScottGem
    You MIGHT be able to transfer your mortgage servicing to Australia, but I don't see what good that does you. That doesn't swap your property. I think Tickle's suggestion of leaving the task in the hands of an agent makes the most sense.
    I only suggested this because they do house trade-ins here, so I thot that if I can trade in my property here for a property there and pay the difference using my current mortgage with revised payments to suit.
    Anyway it was just a thought.:D
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #6

    Feb 4, 2008, 04:19 PM
    There are house trades here to. But generally not with property with a lien on it.
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