Re-mortgage advice please?

helger

[Original post] I am currently considering re-mortgage. The interest rate at First Direct is very attractive. However, I am not sure if First Direct do re-mortgage with Tier-1 visa holders (without indefinite leave to remain)?

[Updating Info] Unfortunately, my currently Tier-1 visa expires in 03/2013. However, there is no problem at all to extend the visa upon expiry. The current mortgage deal just ended at the end of April. So I will be paying SVR. What’s even worse, the SVR increased another 0.5% effective from 1st May! As a result, I really want to get rid of it ASAP.
Basically, I have a decent pay with permanent employment, very good credit history, LTV of 65%, etc. But I am not sure which lender is glad to deal with Tier-1 visa expires in 03/2013.

Dave_Ham

Hi there,

I do not think they will, HSBC would not and their criteria is usually similar.

If you are a Wealth Client or have significant savings they may bend the rules but I doubt it..

There are other lenders that will, but the policies differ depending on overall risk ie income, loan to value and anything in the background..


Good luck

The_J

How many years left on your VISA? It's one of those situations where flexibility can be granted. If you've got a decent deposit it will help.

:grouphug:

helger

[FONT=&quot]Thanks for your input, Dave Ham and The J. I really appreciate it. I have updated with more information in the original post. Any comments are more than welcomed.[/FONT]

Dave_Ham

There will be a solution, I assume you are already with Halifax?

You need to either do a fair amount of research online or instruct a broker to do the checking for you.

My instinct says you will find a rate in mid range between your current SVR rate and that of the attractive First Direct product..

Good luck