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HSBC Mortgages and LTV's
marathonic
Posts: 1,797
Forumite
I'm living in the Republic of Ireland but have been working in Northern Ireland with the same company for the past 6.5 years on a salary of £26,600.
I’m considering moving to Northern Ireland but am obviously not on the electoral registrar or anything.
I contacted HSBC and they said that, since I’m an EU citizen, I can go ahead and apply for a mortgage.
Do you think I have much of a chance or are they just saying this to keep within some sort of EU law – and my application will be rejected when it comes to the underwriter?
I’m not sure about credit histories in Northern Ireland either – I’ve banked with a UK bank for about 10 years and have just been approved for a £1000 credit card with them to try to build a credit history in the UK. However, I can’t check my history without supplying a UK postcode. I wonder can HSBC check it or did my own bank just score may based on their own, internal records?
The house I’m looking at has a £110k asking price but needs some work. I’ve £28k in savings and am considering a £100k offer. I could apply for an 85% fee-free mortgage with HSBC leaving about £12k for the work or I could apply for an 80% mortgage and do the work over 6-12 months. Would the 80% mortgage increase my chances significantly? I know going from 90% to 85% does have a big impact.
I’m considering moving to Northern Ireland but am obviously not on the electoral registrar or anything.
I contacted HSBC and they said that, since I’m an EU citizen, I can go ahead and apply for a mortgage.
Do you think I have much of a chance or are they just saying this to keep within some sort of EU law – and my application will be rejected when it comes to the underwriter?
I’m not sure about credit histories in Northern Ireland either – I’ve banked with a UK bank for about 10 years and have just been approved for a £1000 credit card with them to try to build a credit history in the UK. However, I can’t check my history without supplying a UK postcode. I wonder can HSBC check it or did my own bank just score may based on their own, internal records?
The house I’m looking at has a £110k asking price but needs some work. I’ve £28k in savings and am considering a £100k offer. I could apply for an 85% fee-free mortgage with HSBC leaving about £12k for the work or I could apply for an 80% mortgage and do the work over 6-12 months. Would the 80% mortgage increase my chances significantly? I know going from 90% to 85% does have a big impact.
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