London help to buy Mortgage for tier2 visa holder and deposit from oversea

zhongyuan

Your chances will improve once the funds have been in the UK for at least six months.

kingstreet

Your chances will improve once the funds have been in the UK for at least six months.

A combination on no ILR, HTB and overseas gifted deposit makes this very difficult. Doing the above will remove one of the issues and leave you an option.

An independent broker experienced in newbuild and overseas gifted deposits would be a good first port of call.

zhongyuan

kingstreet wrote: »

Your chances will improve once the funds have been in the UK for at least six months.

A combination on no ILR, HTB and overseas gifted deposit makes this very difficult. Doing the above will remove one of the issues and leave you an option.

An independent broker experienced in newbuild and overseas gifted deposits would be a good first port of call.

Thank you for your response, do you mean if I keep my deposit for 6 month, then I don't have to provide gift letter when buying a property?

I have contacted Halifax, they said they are ok with my visa, since it has 2 years and 11 month remaining, and they are generally fine with foreign deposit as long as my solicitor happy with it.

Do you think it worth to give it a try? or just wait for 6 months, we are really like the apartment and we have paid the reservation fee.

Thrugelmir

zhongyuan wrote: »

Thank you for your response, do you mean if I keep my deposit for 6 month, then I don't have to provide gift letter when buying a property?

You'll need documentary auditable evidence of the source of the deposit.

kingstreet

zhongyuan wrote: »

Thank you for your response, do you mean if I keep my deposit for 6 month, then I don't have to provide gift letter when buying a property?

I have contacted Halifax, they said they are ok with my visa, since it has 2 years and 11 month remaining, and they are generally fine with foreign deposit as long as my solicitor happy with it.

Do you think it worth to give it a try? or just wait for 6 months, we are really like the apartment and we have paid the reservation fee.

Halifax will not accept a gifted deposit from overseas if the donor has no UK bank account;-

Gift from family

You should obtain a letter written by the family member that meets all of the following requirements:

Addressed to Halifax
Dated within the last three months
Details the person/people gifting the deposit and the current name and address of the applicant(s), together with the property being purchased
Confirms the relationship between the person/people making the gift and the applicant(s). They must be a family member. See definition of family member below
Details the family member's full address and is signed
Confirms the amount of the deposit, that it isn't repayable and that the family member will hold no interest in the property following completion of the mortgage
The source of the deposit.

You should also provide a UK bank statement or UK passbook from the family member showing the deposit funds in their account. Alternatively, the family member may provide a letter from their UK bank confirming that the funds are available. Additional statements may be requested where required.

This has affected us before with gifts from China, so be careful.