Length of time in UK to get a mortgage

piglet25

Just as it says in the title really, how long does someone have to have lived in the UK for in order to get a mortgage? Would 18 months be long enough if they have their deposit?

jozbo

Umm... what's your visa status?
Are you employed and for how long?
What would the loan to value be of the property?
These questions would influece the lender's decision and they'll probably vary from bank to bank/building soc

piglet25

Its not me, they have made an offer and its been accepted on a house I want to buy. Its a Chinese lady with a British partner so am guessing they are married but she is going for a mortgage on her own (?) and she would at a guess have the ten per cent most banks are after there days, but have heard she is struggling to get a mortgage.
We have made a lower offer than her and where wondering if we should just match hers cos we are ready to go with a mortgage and deposit or to hang fire and hope she doesn't get a mortgage, pulls out and we save a couple of grand? The difference is only three grand and we would pay it to get the house.

Soot2006

Impossible to know their circumstances ... although you do seem to know a lot about their financial situation.

If she is married to a British citizen, then duration in the UK per se probably not an issue and beside the point; the sticking point will be that many banks want an employment history - ours asked for 2 years of P60s, which she might not have, etc .... She may well have a lot more deposit than the 10%, though. You never know, you can't know. £3000 is nothing in the grand scheme of things, if you want the house and the sellers would be willing to change buyers, go for it.

wisar2006

I am a British citizen and my husband is American. We have just applied for a mortgage after returning to the UK last year. He was not able to get a mortgage due to his visa status (he has a settlement visa but has to take the life in the UK test to make it permanent). In the end we had to take out the mortgage in my name only.

piglet25

Thanks for your replies. We have been talking to a neighbour who was talking to the vendor, so got some of the info that way We looked at the house a year ago when it was a reposession and were unsure whether to go for it then and now its been done up its gorgeous. We have an internal viewing later with the owner because even though we have been leaving noseprints all over the windows we can't see the upstairs! Think we will match their offer and if that doesn't tempt him then just offer the full asking price, in the hope that it doesnt turn into a bidding war as we cant really go any higher

piglet25

Just a note to say we had a good nosy and offered a thousand less than the Chinese lady, he was wavering so we matched her offer on the condition that it was taken off the market and he agreed Got to make formal offer this morning and then off sale it will go and I will have my spanking new house soon, just got to go through my 9 years worth of accumalated junk now :O

Strapped

piglet25 wrote: »

Just a note to say we had a good nosy and offered a thousand less than the Chinese lady, he was wavering so we matched her offer on the condition that it was taken off the market and he agreed Got to make formal offer this morning and then off sale it will go and I will have my spanking new house soon, just got to go through my 9 years worth of accumalated junk now :O

Let's hope the vendor doesn't get greedy in the meantime.

piglet25

They have two choices