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Tier 1 Visa + Mortgage application

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  • r83_2
    r83_2 Posts: 70 Forumite
    Hi, I am currently on T1 Visa in the UK and are valid for further 7 months. I am buying under shared equity and was approved 75% LTV with Halifax 2 weeks ago. Our IFA was extremely good. PM me if you need further details

    Thanks,
    R
  • handytips
    handytips Posts: 372 Forumite
    Yes people you need the services of a good broker whether they are in your vicinity or national. I have done many of these and got them through.
    I am a Mortgage Advisor. You should note that this site does not check my status as a Mortgage adviser, so you need to take my word for it. This signature is here as i follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldnt be seen as financial advice.

  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Done a couple recently, used Nat west and Halifax.

    Most lenders have not caught up with the change in rules and insist on a minimum of 2 years remaining, which is technically impossible now, as the visa's are issued for a maximum of 2 years.
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • geoffky
    geoffky Posts: 6,835 Forumite
    jesus i have never seen so many advisor's touting on here before....the long time good ones on here just give info out and do not tout..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • The_Palmist
    The_Palmist Posts: 789 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    handytips wrote: »
    Yes people you need the services of a good broker whether they are in your vicinity or national. I have done many of these and got them through.

    got them through ?

    Did you ever managed get a decision overturned for someone on tier 1 who has been refused mortgage ?

    I mean if the bank has rule/policy of not lending to someone with more than 1 year Visa, are Brokers capable of bypassing or overturning that rule.

    I will pay a broker if he can get me a HSBC mortgage while I am on Tier 1. I will certainly not be paying someone to do things which I could do on my own.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
  • The_Palmist
    The_Palmist Posts: 789 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    r83 wrote: »
    Hi, I am currently on T1 Visa in the UK and are valid for further 7 months. I am buying under shared equity and was approved 75% LTV with Halifax 2 weeks ago. Our IFA was extremely good. PM me if you need further details

    Thanks,
    R

    can you elaborate on "Our IFA was extremely good" I am interested in knowing the bits he did for you which you couldn't have done yourself.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
  • handytips
    handytips Posts: 372 Forumite
    Just out of interest Palmist, what exactly do you do for a job ? As you have such a low regard for the broker fraternity, or is it just a case of FREE FREE FREE...Newsflash..Nothing is free..and i wouldnt mind betting i could do your job also, but i certainly wouldnt do it for free. Get a life
    I am a Mortgage Advisor. You should note that this site does not check my status as a Mortgage adviser, so you need to take my word for it. This signature is here as i follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldnt be seen as financial advice.

  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The_Palmist wrote: »
    got them through ?

    Did you ever managed get a decision overturned for someone on tier 1 who has been refused mortgage ?

    I mean if the bank has rule/policy of not lending to someone with more than 1 year Visa, are Brokers capable of bypassing or overturning that rule.

    I will pay a broker if he can get me a HSBC mortgage while I am on Tier 1. I will certainly not be paying someone to do things which I could do on my own.

    Would you "pay" a broker if their only fee came from the lender, or would you still prefer to source and deal with the lender direct in order to stop that broker feeding their kids this week?!
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • The_Palmist
    The_Palmist Posts: 789 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    handytips wrote: »
    Just out of interest Palmist, what exactly do you do for a job ? As you have such a low regard for the broker fraternity, or is it just a case of FREE FREE FREE...Newsflash..Nothing is free..and i wouldnt mind betting i could do your job also, but i certainly wouldnt do it for free. Get a life

    I would have appreciated some answers, I am trying to understand what exactly brokers do and whether its worth paying for their services. You could have just clarified or may be shared some case studies where you did things which I [as an example] couldn't have done on my own.

    You are not doing your community a favour by reacting like that.

    I have nothing against your business and I certainly don't have low regard for brokers.

    No need to be defensive handytips, you could have just answered my questions.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
  • The_Palmist
    The_Palmist Posts: 789 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Wh05apk wrote: »
    Would you "pay" a broker if their only fee came from the lender, or would you still prefer to source and deal with the lender direct in order to stop that broker feeding their kids this week?!

    I would find the best deal I could on my own, then I would ask you if you could beat that deal. If you could, then I will be more than happy to pay you. It's simple economics, leave kids out of it.

    Next you will want me to stop all the DIY I do at home so handymen can continue feeding their kids.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
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