Mortgage for Non EU

The_Palmist

So after receiving an offer in principal, I spent an hour in bank today doing all formalities. Everything seemed to have gone through alright. Just had a call from bank manager that they need Indefinite Leave to Remain on my passport before they can take my application forward.

I have been here for the last 9 years and won't be able to apply for ILR till next year.

I have 31K in savings and required a mortgage for 91K. A bit gutted as I have maintaining a good clean credit history for the past few years. HSBC guy said they have recently brought in this criteria.

I have called Nationwide and they say the same. Looks like I will have to keep paying the rent for another year before I can buy a house.

Ms_Sophia

try to talk with some whole of market mortgage brokers, explain your situation and ask them to check with the banks upfront if they will accept a person without ILR. The brokers can talk to the bank underwriters directly and check if they accept people like that or not. It'd be better than applying to a bank after bank to only find out in the middle of the process that a bank requires ILR.

The_Palmist

Thanks. I have spent the last hour calling lenders. I decided to explain my situation first before starting the process to avoid any disappointments. So far Halifax are the only ones who sound positive.
Rates not too bad either.

Ms_Sophia

yes, Halifax seem to be positive in such situations. Also you might want to check Woolwich, ING Direct and Nationwide. Surely a good idea to call and discuss this first.

kingstreet

Halifax criteria for non-EU nationals;-

Passport required to verify right to live and work in UK for all applicants except EEA nationals.

Applicants must not enjoy diplomatic immunity

If not and client is a non EEA National... (EEA Nationals include citizens from the following Countries: Austria, Belgium, Cyprus (Greek Cypriot only), Denmark, Finland, France, Germany, Greece, Iceland, Eire, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland.)

Passport includes indefinite leave to remain - proceed

Passport does not include indefinite leave to remain but includes work permit or visa with minimum 2 years 6 months to run - proceed

Please ensure that if the passport has a visa stamp and if this stamp has specific conditions attached that any documents that refer to these conditions are submitted with the passport, i.e. if the visa says ‘As authorised by the secretary of state’ then the work permit and a letter from the employer confirming that they have applied (or intend to apply) for the permit to be renewed are submitted

If not, where work permit has less than 2 years 6 months employer must confirm that they have applied (or intend to apply) for the permit to be renewed - or

Where UK ancestry visa, applicant must be in minimum of 4th year of continuous employment in UK (any number of employers). Evidence of continuous employment required - proceed

Some Non-EEA nationals may have an identity card issued by the home office in place of a visa, which will confirm the customer's right to stay, work or study in the UK. These cards are acceptable.

If none of the above apply the case can not proceed.

Citizens from Czech republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia & Slovenia, who entered the Country prior to 1st May 2004 are treated as all other foreign nationals as above. Any citizen who entered after 1st May 2004, maximum LTV is restricted to 75%.

The_Palmist

I have only got 1.5 years left. Well lets see how it goes. I am not getting my hopes up this time.

Ms_Sophia

Call ING Direct. They told me over phone that they require min. 1 year left on visa only.

The_Palmist

Thanks, I will keep ING direct in mind. Halifax have already progressed my application and have confirmed there shouldn't be an issue. I am in doubt but might as well let the application carry on.

Ms_Sophia

as mentioned, Halifax seems to have a good reputation in regards to lending to those on work visa. Good luck with it! I'll keep my fingers crossed for you