Mortgage for Uk property for UK Work permit holder

SundAdvc

Work permit holder looking for mortgage Hello

I am professional working on work permit in UK.
I have been in UK for more than 2.5 yrs in total.
I looking for a mortgage for property in UK but the two bank I approached ( HSBC and Nationwide) give mortgage to permanent residents holder only.

Can some one advice lenders ,offering mortgage to work permit holders in UK.I am ready to put a deposit of 20-25 %.
Thanks in advance.

Rudess

SundAdvc wrote: »

Work permit holder looking for mortgage Hello

I am professional working on work permit in UK.
I have been in UK for more than 2.5 yrs in total.
I looking for a mortgage for property in UK but the two bank I approached ( HSBC and Nationwide) give mortgage to permanent residents holder only.

Can some one advice lenders ,offering mortgage to work permit holders in UK.I am ready to put a deposit of 20-25 %.
Thanks in advance.

I feel for you, I'm in a similar situation. Been given a Mortgage in Principal by a big bank in a joint application. When we came to do the application the bank didn't want to proceed because my wife is non-eea citizen. I tried explaining them that she doesn't need a PR because she has the same rights as me (EU), but they don't want to listen.

Clearly the banks are discriminating against foreign national and in fact are breaking EU-treaty rights, as EU citizen and spouse/partner should have the same rights.

I'm going to make official complaint to the management of this bank, also to the FSA and considering contacting the press. It can't be that there are people in this country who work hard and saving to buy a property but the bank doesn't want to help them. It's a real shame that the banks that put us all in this financial mess, are not doing anything they can to help back the average citizen, but just try to restrict them.

harvey115

Stop there and go to a good mortgage broker, they might be able to find you the correct lender who accepts your VISA type.

harvey115

Every bank and building society have their own lending policies and residential status comes as own of the requirements in these policies. Depending on the type of lender and their risk capabilities they would allow certain type of borrowers not able to get mortgage elsewhere.

Call a good mortgage broker and let them do the work.

Rudess

harvey115 wrote: »

Stop there and go to a good mortgage broker, they might be able to find you the correct lender who accepts your VISA type.

I spoke to a very good mortgage broker, they made a thorough search, there isn't a single lender that wants to lend us money, which is why a complaint is on the way.

Every bank and building society have their own lending policies and residential status comes as own of the requirements in these policies. Depending on the type of lender and their risk capabilities they would allow certain type of borrowers not able to get mortgage elsewhere.

They can have whatever policies they want, but they can't break EU treaties, under which EU citizen and spouse (non-eea) have the same rights or residence. The whole interpretation of the banks of the immigration laws is wrong, There is no question of financial risk because of income but just a matter of nationality,based on which banks are discriminating applicants.

harvey115

Best of luck with your complaint.

Try to complaint to the bank first (written), if you are not satisfied with the outcome go to the Financial Ombudsman Service

Rudess

Thanks, I'll probably submit it on Monday (after getting legal advise from a solicitor).

Rudess

Already did some quick research and seems that Directive 2004/38 will be very helpful for my case. It basically forbids discrimination of EEA national and their family members in the host member states. I think I have a very good case here.

Dave_Ham

So if you adverse credit recorded and the bank decline an application, would that be discrimination??

I think you will find that the banks can set whatever criteria they want, within reason and a few hours googling and reading on forums does not constitute a court claim against the entire banking sector..

Whilst I have some sympathy with your plight, you need to obtain some perspective

Rudess

So if you adverse credit recorded and the bank decline an application, would that be discrimination??

But I don't have, my credit rating is excellent, so this argument is irrelevant.

I think you will find that the banks can set whatever criteria they want, within reason and a few hours googling and reading on forums does not constitute a court claim against the entire banking sector..

They can set, but they are not above the law and if they break the law or make unlawful interpretations of immigration law, then someone will point them to that.

Whilst I have some sympathy with your plight, you need to obtain some perspective

I have a good perspective and grasp of the situation, me and my wife are being discriminated by the bank based on her nationality (which is against what stated in Directive 2004/38). It might not help just ourselves but probably lots of more people in this country who are in the same situation.

Dave_Ham

Missed the perspective point, my illustration was that bank x will not accept anyone with a CCJ. Client a has a CCJ so they refuse him - is this discrimination - no it is their policy, same as the nationality and residency conditions that they set.

I am not saying it is fair or unfair, just that you are going to waste your time, money and effort pursuing it based upon a feeling of injustice and your interpretation of the law..