Economics Of A Move To Birmingham, Al (mortgage, credit report)

[unionjack]

Hi,

Can someone please advise how it works regarding bank accounts and mortgages for non us citizens.

Also how much can we expect to pay (per month) for:-

private nursery? (a good one, preferably Montessori)
Cleaner ?
and/or
Housekeeper?
Gardener/Groundsman?
Someone to clean/look after a swimming pool? (not much cause for this in UK)

Thanks in advance

[MagpiesMagpiesMagpies]

Originally Posted by unionjack

Hi,

Can someone please advise how it works regarding bank accounts and mortgages for non us citizens.

Also how much can we expect to pay (per month) for:-

private nursery? (a good one, preferably Montessori)
Cleaner ?
and/or
Housekeeper?
Gardener/Groundsman?
Someone to clean/look after a swimming pool? (not much cause for this in UK)

Thanks in advance

Hi -- A few of the things on your list are questions I can only wish I had the financial means to answer authoritatively. But here's a bit on banks & mortgage issues...

Opening a bank account is much easier in the US than the UK. You pretty much have to have an address and money to put into it. The mortgage is a bit more problematic given that you'll have to provide a credit history to get one. Equifax and Experian are established credit reporting bureaux in both countries, so I would obtain paper copy of those reports since the lender won't otherwise be able to learn your credit from the UK.

Alternatively you might want to look into a lender that operates in both countries (HSBC, Citibank). They would be able to evaluate your credit back home in order to establish a mortgage Stateside.

Magpies