Mortgages for foreigners...

sandraa_2

Hello! I am having a bit of a headache at the moment with mortgage application... We are first time buyer and looking for a mortgage with 5% deposit.
We made an appointement with nationwide and were very happy as they agreed to lend us £215000 with a 5 % deposit. THE PROBLEM is my husband is turkish and on a 5 years resident permit and they won t lend us the money until he gets a permanent resident permit (which will happen next year).

Do you think we should wait until next year to buy (but we really want to buy now) or have you any idea if other lender woul not make a problem about his resident permit.

It is silly because we have been married 4 years so it is 100% sure he will get a permanent resident permit in few months....

PLEASE HELP!!!!:rolleyes:

MortgageMamma

There are some lenders which will consider your husband on the mortgage application under the current circumstances. Could you tell me what both you and your husband do for a living? Are you a UK National?

sandraa_2

Thanks for your reply!
I am not Uk national, I am french... but that did not seem to be a problem at all somehow. I am a science technician in a london school (employed for 4 years) on£21000, my husband is a civil enginner for a big compagny (employed for 4 years)on £29000.
Our credit scoring is pretty good as after looking at it Nationwide increased the amount they would lend us...
It is so stressful because home office takes ages to send passsport back so we would really like to buy before sending them!
Sandra

MortgageMamma

Yes I know I got a mortgage for a client in the same situation as yours last year but the home office had his passport 2 months which nearly caused the sale to fall through!

In answer to your questions, there is no reason why you shouldnt borrow. I hate to harp on about it on these boards but there really is no better way to arrange a mortgage which si out of the ordinary than to take professional advice. When looking for an advisor you need a fee's free whole of market mortgage broker (this is someone who can recommend any mortgage in the UK and will not charge you an upfront fee). Do not go directly to anymore banks as if you are declined for a mortgage it impacts your credit score and you also have to declare it to the next mortgage lender who you approach.

hi123

can i suggest to try halifax,they are usually very good with these sort of applications

avi_3

the other option would be is go into the bank you bank with and they will consider you.

MortgageMamma

hi123 wrote:

can i suggest to try halifax,they are usually very good with these sort of applications

Actually, Halifax STINK for these type of applications. What are you basing this statement on?

AndrewSmith

The majority of lenders will want to see evidence of 'right to remain' for the next 3 years, or permenant residency.

hi123

MortgageMamma wrote:

Actually, Halifax STINK for these type of applications. What are you basing this statement on?

i was myself in the same situation 2 years ago,having visa for about 2 yrs only
halifax lent us without any questions
first direct had issues about lending though they were our first choice
i am in the process of arranging remortgage now and again intelligence finance seems to be the easiest to get(i am looking for an offset product)

Snippy30

My partner is from brazil and halifax turned us down last year as she only had a short time on her VISA. Royal Bank of Scotland accepted us though.

sandraa_2

thanks everyboby for your replies... I will make an appoimtement with a no fee whole market mortgage brooker and let you know what happens. X sandra