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First time buyer-Need advise pls
rosenelson
Posts: 7 Forumite
Hi,
Im looking at a property around 175000 and have about 30% deposit.
Would a tracker be good. As i'm not sure If i stay in UK or move out should i go for one without any early repayment charge?
Also will all lender lend me money as i'm on a Tier1 visa and will get Indifinite leave to remain(permanent residency) after 3 years?
If for some(crazy) reason govt changes the immigration rules and say they have stopped ILR for Tier1 visa holders then i'll be left with two options
i) Sell the house and go.(Early repayment charge?)
ii) Rent the house(Will the lender be ok to rent it? are there any charges involved in it?)
I'm really confused, please help. I will be contacting a mortgage broker shortly but want to be equipped with some knowledge before that.
thanks in advance.
RoseNelson
Im looking at a property around 175000 and have about 30% deposit.
Would a tracker be good. As i'm not sure If i stay in UK or move out should i go for one without any early repayment charge?
Also will all lender lend me money as i'm on a Tier1 visa and will get Indifinite leave to remain(permanent residency) after 3 years?
If for some(crazy) reason govt changes the immigration rules and say they have stopped ILR for Tier1 visa holders then i'll be left with two options
i) Sell the house and go.(Early repayment charge?)
ii) Rent the house(Will the lender be ok to rent it? are there any charges involved in it?)
I'm really confused, please help. I will be contacting a mortgage broker shortly but want to be equipped with some knowledge before that.
thanks in advance.
RoseNelson
0
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