Shared Ownership Mortgages for non-EU citizens

kookamunga

Hi All,

My boyfriend and I are looking at buying a shared ownership flat in London later this year. The area we live in has a ton of new build flats and we will have enough deposit for a 20% deposit on a 25% share at a push, but ideally we're looking for a 15% deposit mortgage on a 25% share (we'd prefer 15% deposit so that we can afford the additional fees involved in buying a home).

Now, I'm fully aware that it is really difficult to find a mortgage provider that will give a mortgage on a shared ownership new build flat (not house), but I have a second issue.

I am not British, however my boyfriend is British. There are many high street banks that I've approached that won't even consider giving a mortgage to someone that doesn't have permanent residency, only a few that might consider it if I wasn't buying a new build flat. I have lived in the UK for 5 years, I'm on a work visa that I'll extend next month for a further 3 years (and I will be eligible to apply for Indefinite Leave to Remain after the 3 years so I will then become a permanent resident). My boyfriend and I have been together for 3 years, we've lived together for 1 year and we'll probably be engaged before the end of the year so everything is headed in that direction

I am really struggling to find someone that will give us a joint mortgage on a new build shared ownership flat given that I'm not British. And I know the first thing that may pop into your head is "Why don't you put the mortgage in his name?" Well, he doesn't qualify on his own, he works in a school so doesn't make enough to qualify for the shared ownership scheme even on his own. I don't qualify for shared ownership on my own because I'm not British, hence we only qualify together.

Every time I've spoken to a mortgage adviser, they've told me "ohh yeah Halifax or Leeds Building Society will give you a mortgage". I call that bank and it turns out they won't

I know this is a tough one, but if anyone else has come across this issue, has any experience with shared ownership mortgages or mortgages for non-EU citizens, I would greatly appreciate some advice. Anyone have any ideas of any banks that would be able to give us a mortgage?

zerog

HSBC premier or a private / offshore bank. They will need to be convinced that if you are not allowed to stay in the UK, you can still pay the mortgage from your home country or any other country in which you have residency. You are not even married yet so there is nothing to link you to your boyfriend, unlike in some other countries.