Help - Mortgage ILR?

riceraider

Hi,

Just got off the phone to nationwide this morning to check on lending criteria on a joint mortgage between the other half. Me british citizen and other half a US national with indefinite remain to leave in uk. She has been in the uk since 2000 and only got her ILR on 2007.

She has not applied for British citizen but is obviously eligible to do so. Anyways I've been told because of this we can't get a joint mortgage with her added?
This to me sounds a very odd requirement, as i thought simply having indefinite remain to leave aka permanent residency is more than sufficient?

I wanted to double check if you think this sounds rite? As I get the feeling the adviser has given me the wrong information?

Farside

yes you can get a joint mortgage with a non UK national, you can even if she didn't have her ILR(although it is harder then). My wife has ILR and she never applied for her citizenship, but i know we could get a joint mortgage with Nationwide if we wanted to.

Just write in and complain, then it will all get passed to the correct department team / underwriters.

Non-EEA Foreign Nationals

For applications to be considered, indefinite leave must be evidenced by a stamp in a currently valid passport or written confirmation from the Home Office.
Where indefinite leave to remain in the UK is not granted, applications can be considered subject to meeting the following criteria:

• Minimum 25% deposit which must be from the applicant's own resources. Gifts, Builder's Cashback and Top-Ups are unacceptable sources of deposit.
• Applicants must have been legally resident in the UK for at least 3 years
• Applicants must have either Tier 1 or Tier 2 immigration status, the government definitions of Tier 1 and Tier 2 are as follows:
  - Tier 1 for highly skilled workers
  - Tier 2 for skilled workers with a job offer
• Applicants must have their salary paid into a UK bank account
  

Applications for applicants who do not have indefinite leave to remain in the UK, but who meet all the above criteria, should be submitted via paper; an Underwriter will assess the individual application and approve it where appropriate.

riceraider

Farside wrote: »

yes you can get a joint mortgage with a non UK national, you can even if she didn't have her ILR(although it is harder then). My wife has ILR and she never applied for her citizenship, but i know we could get a joint mortgage with Nationwide if we wanted to.

Just write in and complain, then it will all get passed to the correct department team / underwriters.

Non-EEA Foreign Nationals

For applications to be considered, indefinite leave must be evidenced by a stamp in a currently valid passport or written confirmation from the Home Office.
Where indefinite leave to remain in the UK is not granted, applications can be considered subject to meeting the following criteria:

• Minimum 25% deposit which must be from the applicant's own resources. Gifts, Builder's Cashback and Top-Ups are unacceptable sources of deposit.
• Applicants must have been legally resident in the UK for at least 3 years
• Applicants must have either Tier 1 or Tier 2 immigration status, the government definitions of Tier 1 and Tier 2 are as follows:
  - Tier 1 for highly skilled workers
  - Tier 2 for skilled workers with a job offer
• Applicants must have their salary paid into a UK bank account
  

Applications for applicants who do not have indefinite leave to remain in the UK, but who meet all the above criteria, should be submitted via paper; an Underwriter will assess the individual application and approve it where appropriate.

Thanks that's reassuring.
I managed to find that same info via nationwide-intermediary on general lending.

The other issue which I've still to confirm is if they will accept gifted money to contribute towards our purchase. This gift has been recieved by my wife from her aunt living abroad.
In terms of a desposit for the purchase, I have sufficient funds based on personal savings. But the addition gifted funds that my wife recieved we'd want to use on purchase as well.

A note mentions the following under desposit section:
'Non-EEA Foreign Nationals' deposits must come from their own resources.'

Do you think we'd still be ok? Particular as for the inital desposit it will be paid using my savings.

ethank

Does the gifted money form part of the deposit? (I class the deposit as any money you are not borrowing from Nationwide) - under Nationwide rules above you will not be allowed to do this.

riceraider

ethank wrote: »

Does the gifted money form part of the deposit? (I class the deposit as any money you are not borrowing from Nationwide) - under Nationwide rules above you will not be allowed to do this.

Yes we would need to use this gifted money to make the
purchase possible.
The breakdown is 407500 property price, 125000 equity
from my exist property sale, 87500 own savings....
and the remaining 50000 gift via wife.

I thought it may make a difference as a joint mortgage
And I have sufficient large deposit alone. But obviously
We need to make use of the gift to make the purchase
Based on the mortgage amount.
So still a no?

ethank

You need to speak either to Nationwide or a Broker as only they will say whether you can or not.

What would you do if they say no?

riceraider

ethank wrote: »

You need to speak either to Nationwide or a Broker as only they will say whether you can or not.

What would you do if they say no?

We would need to find a lender that would accept this
Else we wouldn't be able to proceed.
I'm sure how other lenders would view this? And if we
Would have trouble getting a mortgage for these reasons?
It's looking like a rather stressful surprise

coco__nutty

Hi there,

Not sure if you are still on these forums, but would you mind giving us an update please?

I am currently in a similar situation and with regards to making up 25% of deposit from my OWN resources... is this even possible without there being a gift?

Thanks in advance!