Mortgage for foreign nationals

danadanny

Thank you for your kind words. It helps.

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

herbiesjp

shameless-about-money wrote:

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

As I said - It depends on the lenders.

It can be done with some lenders even with 5 months, but as I keep saying it depedns on the whole scenario and not just the length of employment

BTW - I'm surprised with your friends - did they go direct to banks?

danadanny

Based on what you said, there's a fair amount of discretion on the lenders then. It seems like it is moon-dependent as well, as to whether an applicant gets the mortgage as well.

They're not my friends.

herbiesjp wrote:

As I said - It depends on the lenders.

It can be done with some lenders even with 5 months, but as I keep saying it depedns on the whole scenario and not just the length of employment

BTW - I'm surprised with your friends - did they go direct to banks?

herbiesjp

danadanny wrote:

They're not my friends.

I was referring to the other poster - shameless-about-money - and his/her American friends.

Yes there can be discretion with the underwriters of some lenders

Col.Mastard

But how can anyone get a mortgage, if they are in the UK on a temporary basis?
What if they return to their country of origin? (Visa expiry, deportation, etc…)

LisaT186

There are many factors to consider and each lender will have different criteria for each part!

Length of time you have been here
What sort of VISA you have
How long it has left to run
How long you have been working
Whether your work is permanent
How much you earn
how much you are looking to borrow
etc etc

As herbiesjp has said, talk to a broker, they can look at each area, how a lender would view it and then talk to them about your particular circumstances before applying to get the best for you.

Dutchgirl_2

Are you from the EU or from outside the EU?

My experience being an EU citizen is that it's hard to get a mortgage without having 3 years on the electoral roll under your belt. I managed to argue that I was in a good position for a mortgage based on two years of employment history and a permanent contract for my second job, rather than three years of credit history. Going through a broker helped a lot!

vo-vo

Did Halifax specify a minimum amount of deposit required for this?

I heard that Abbey will approve this as long as you have 25% deposit!

danadanny

I am from outside the EU but a citizen of a Commonwealth country.

I have received letters asking me to vote and I believe I am on the electoral roll for at least 2 years.

Dutchgirl wrote:

Are you from the EU or from outside the EU?

My experience being an EU citizen is that it's hard to get a mortgage without having 3 years on the electoral roll under your belt. I managed to argue that I was in a good position for a mortgage based on two years of employment history and a permanent contract for my second job, rather than three years of credit history. Going through a broker helped a lot!

danadanny

The mortgage advisor from Halifax specified a 3% deposit on the AIP.

peiw wrote:

Did Halifax specify a minimum amount of deposit required for this?

I heard that Abbey will approve this as long as you have 25% deposit!