Joint mortgage application, my partner does not have indefinite leave to remain(Yet!)

poolprouk

Dear All,

I am looking at getting a mortgage with my Partner who is has been in the uk since july last year on a Partner Visa that is valid for 2 years. She will apply for indefinite leave to remain (effectively residency I believe) when this runs out. It is highly unlikely that she would be refused (she's an aussie by the way)

We have today had an offer accepted on a house. yay!

On the way home i had a panic thought, will the mortgage lender allow us to base our mortgage amount on our joint salaries if she does not have full residency?

The mortgage lender in question is nationwide and we do both have current accounts with them. So she was able to get that at least as a non resident which gives me hope.

If we can't get the mortgage amount based on both our salaries then we are doomed. :sad:

I willl have one cheesed off vendor also.

When i sat down with the broker for an initial assesment she didn't think it would be a problem but now that I am formally applying the form has asked if we are each residents hence the panic.

I can't really see anything to answer this question on the nationwide website and am scared to ask. I think i could take the bad news better if it was posted on here. :grouphug:

Poolprouk

herbiesjp

If Nationwide say no then you will have other options.

The main thing here is not to bury your head in the sand - call Nationwide first thing tomorrow and explain the situation to them clearly. The last couple of times I have dealt with non EU clients Nationwide have said they wanted permanent right to reside.

The fact that you are already Nationwide customers may work in your favour

HTH

Madjock

As I've mentioned elsewhere, Abbey are a good bet if Nationwide have a problem with it.

vo-vo

I had the same problem - went to Abbey but they requested 25% deposit. Finally managed to get through Halifax with 15%. I heard Halifax has no problem with that. Otherwise approach a free broker and they will definitely able to source something out! All the best

kendun

Hi,
Halifax and HSBC provide mortgages for people who do not have Indefininte Leave to Remain(ILR).The interest rates for other providers will definitley be cheaper but getting a mortgage might be difficult due to not having ILR.It might be worth speaking to HSBC or Halifax first to sort this out.You could look at a 2 year fixed deal and when your partner gets her ILR you could remortgage.I think with Halifax you should be able to get by with 10% or even lesser deposit.
Hope you guys get your mortgage sorted out soon.

poolprouk

well thanks to all for advice.:T

After removing my head from the sand (where's the smiley for that?) i rang nationwide, and, as expected, "computer says nooooooooo".

so i've rang a couple of brokers who are on the case. but the joint deal is looking unlikely, however i will check a few of the providers mentioned in this thread.

my deposit is just under 8% so I am trying to avoid a HLC this is a key thing as it dwarfs any interest rate differences(assuming HLC mortgage has lower rate) over the 2 years.

My personal salary is just over 5x the mortgage amount so the brokers reckon I could probably get a mortgage with a lender based on my salary alone.

In fact one has already come up with a mortgage from northern rock with no HLC. over the 2 years it's only £800 more than the nationwide mortgage (i hadn't noticed a point in the nationwide kfi of :-

"Interest charged in the month of advance, payable with your first full monthly payment £859.30".

This halved the difference (stating the obvious sorry)!

I'll see what the other broker says and then go from there.

I'll try and keep you informed in case we do get a mortgage based on both salaries as this might help others in same situation.

Thanks again,

Poolprouk

maryjane01

I am Australian, I got a 100% mortgage with my English partner when I was still only on a working holiday visa. The mortgage is with Royal Bank of Scotland, if you go through them directly there is a HLC but we went through a broker and there was no HLC. Find a good broker who knows the lending criteria of the various brokers, it will save you time and possibly money.

poolprouk

Keeping the mortgage advisor going even though HSBC would accept me for a mortgage was a good idea as she has managed to persuade Bristol and West to accept us(saves just over 1K over the 2 years of the fixed rate inc fees). She said they didn't have a problem with the fact that my partner was australian but they were a bit iffy about the fact that she only had 15 months left on her visa. The mortgage advisor talked them into it. The advisor told me yesterday she's had verbal confirmation that it's a goer.

They don't have a HLC which is good as well!

Thanks for the advice all.
:T