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Mortgage_Immigrant

ispookie666
ispookie666 Posts: 1,194 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Hi all
Any help would be welcome.
I'm in the market looking to buy a house.. have 15% deposit and looking for house around 120-160k. Our combined income is 90k and have exceptional credit history.
My main worry is.. being a immigrant and only being in country for 3 yrs might hamper my chances of getting a mortgage...
If i delay for another 2 yrs (till i get indefinite leave to remain) i would be shelling out close to 15k in rent. :-(
Any thoughts from any one,
“Don't raise your voice, improve your argument." - Desmond Tutu

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Comments

  • chr.istine
    chr.istine Posts: 16 Forumite
    As far as I know, no bank will lend to you unless you already have (min) indefinite leave to remain. Just rent in the meantime & chalk it up to unavoidable living costs. :sad:
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    chr.istine wrote: »
    As far as I know, no bank will lend to you unless you already have (min) indefinite leave to remain. Just rent in the meantime & chalk it up to unavoidable living costs. :sad:
    ....and as far as I know some banks do not require ILR. I got my mortgage without ILR with the RBS. The conveyancer took a copy of my passport and that was it....but then I had 25% deposit so maybe that was the difference.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Cornball
    Cornball Posts: 256 Forumite
    Halifax and HSBC both offered me mortgages in 2010 with less than 18 months left on my work permit. Went with Halifax in the end. Very small deposit too.

    Good luck. :)
  • Slowly_does_it..
    Slowly_does_it.. Posts: 194 Forumite
    Halifax gave me a 90% mortgage with 2 years left on my 5 yr visa, I still need to get my ILR. (not the best rate, but hey!)
  • kingstreet
    kingstreet Posts: 39,351 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    There's a long thread on here "Mortgage with Tier 1 Visa" I'm sure you'll find it with a search.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • geek1981
    geek1981 Posts: 184 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    AFAIK, post office doesn't ask your passport copy. i'm not British but have ILR, PO didn't ask me what visa i have when i applied for my mortgage.
  • chr.istine
    chr.istine Posts: 16 Forumite
    HappyMJ wrote: »
    ....and as far as I know some banks do not require ILR. I got my mortgage without ILR with the RBS. The conveyancer took a copy of my passport and that was it....but then I had 25% deposit so maybe that was the difference.

    Well, that was what the mortgage advisor at Santander told us two months ago... And we went in with a 40% deposit!

    The service at Santander isn't the greatest so I wouldn't be surprised if this is true. But I do know the banks that had the best rates (back then) wouldn't touch me with an extended barge pole so the mortgage had to be taken out in my husband's name only.
  • gaz141
    gaz141 Posts: 110 Forumite
    ispookie666 wrote: »
    Hi all
    Any help would be welcome.
    I'm in the market looking to buy a house.. have 15% deposit and looking for house around 120-160k. Our combined income is 90k and have exceptional credit history.
    My main worry is.. being a immigrant and only being in country for 3 yrs might hamper my chances of getting a mortgage...
    If i delay for another 2 yrs (till i get indefinite leave to remain) i would be shelling out close to 15k in rent. :-(
    Any thoughts from any one,

    speechless
  • ispookie666
    ispookie666 Posts: 1,194 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Thanx guys
    That was an overwhelming response...
    Need to save up a bit more... and get clear from the rent-debt.
    “Don't raise your voice, improve your argument." - Desmond Tutu

    System 1 - 14 x 250W SunModule SW + Enphase ME215 microinverters (July 2015)
    System 2 - 9.2 KWp + Enphase IQ7+ and IQ8AC (Feb 22 & Sep 24) + Givenergy AC Coupled inverter + 2 * 8.2KWh Battery (May 2022) + Mitsubishi 7.1 KW and 2* Daikin 2.5 KW A2A Heat Pump
This discussion has been closed.
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