Mortgage for foreign nationals

danadanny

Hi,
My partner and I are foreign nationals and are interested in buying a property in the UK. My partner is working as a full time staff nurse with the NHS since Sept 2004. I graduated from a UK university in July 2006 and was employed full time since Sept 2006.

We have made an offer and it has been accepted by the seller. However, the most crucial part is missing from the main picture. The mortgage.

We had an agreement in principle from Halifax but when we submitted our application, it was rejected based on my employment duration of 5 months.


May I request for advice on how we can proceed from this point?


Kind regards.

Madjock

You should speak to a broker. Depending on the length of time you have on your visa, there are lenders who will give you a mortgage. Abbey and Bristol & West are possibilities, but you really need a broker's help.

herbiesjp

Your residency status and employment history may be the mian probelms here. Difficult to say as we do not know you full scenario.

I have placed numerous cases for non UK nationals, with various lenders - as always which one is finally chosen is dependant on individual circumstances and client preference.

Have a word with a fee free whole of market adviser and they should be able to help

HTH

danadanny

Thank you for your reply.

I am surprised you mentioned Abbey. I was told by my partner that they need permanent residency status.

Is it possible to recommend a reliable broker that I can speak to?

Kind regards.

Madjock wrote:

You should speak to a broker. Depending on the length of time you have on your visa, there are lenders who will give you a mortgage. Abbey and Bristol & West are possibilities, but you really need a broker's help.

shameless-about-money

It does tend to be the fact that you have to have been earning for more than one year, plus the residency status.

I have friends who came in from America, working as professionals, whom have had the same problem.

danadanny

Herbiesjp,
why my employment history may be a problem? Is there a minimum number of years I must work?

herbiesjp wrote:

Your residency status and employment history may be the mian probelms here. Difficult to say as we do not know you full scenario.

I have placed numerous cases for non UK nationals, with various lenders - as always which one is finally chosen is dependant on individual circumstances and client preference.

Have a word with a fee free whole of market adviser and they should be able to help

HTH

danadanny

shameless,
if that's the case, then this purchase is out of the window then, isn't it?

shameless-about-money wrote:

It does tend to be the fact that you have to have been earning for more than one year, plus the residency status.

I have friends who came in from America, working as professionals, whom have had the same problem.

herbiesjp

As you have seen from the Halifax, they have turned you down for only a 5 month track record.

Your kind of scenario needs to be discussed verbally with the lenders, before applying, in order to see which ones are happy with the overall scenario.

That's why I think you will benefit from the help of a broker in your situation

HTH

shameless-about-money

Even British Nationals have to have had a work history of at least a year - both partners in a couple/marriage!

herbiesjp

Not necessarily true.

It all depends on the individuals circumstances.

For example got a mortgage for chinese couple, two weeks ago and the wife had only been in employment for 6 months (her probationary period ended during the application process)

It can be done, so if you are set on the property don't give up hope until you have looked at all areas.

HTH

shameless-about-money

herbiesjp wrote:

Not necessarily true.

It all depends on the individuals circumstances.

For example got a mortgage for chinese couple, two weeks ago and the wife had only been in employment for 6 months (her probationary period ended during the application process)

It can be done, so if you are set on the property don't give up hope until you have looked at all areas.

HTH

Well, since the OP had worked for five months and was refused!

Speaking from experience, just last year -

My American friends are both surgeons, very well paid, were putting down a huge amount as deposit - they still insisted on the 12 month employment first. They rented in London for over a year until they were given a mortgage.