Get Mortgage with Tier 2 Visa as NHS nurse

mayey87

Hi! I am a nurse working in the NHS on a tier 2 visa, while my partner is a self employed gas engineer with a British passport. Our combined income is around £65-70k per year. My question is: is it possible for us to get a mortgage despite my visa status?

I have been working for the NHS (and in the UK) for 2.5 years. My current visa is valid until 2021, but I have a permanent contract with my employer, which means my visa will automatically be renewed once it expires. By 2023, I will be eligible for an indefinite leave to remain status, and by 2024 I can apply for british citizenship.

In terms of credit scores, mine is very good (better than his), and I have a bigger combined credit card limit (around £8k). I also have a more stable income than him, and as I have a permanent contract with the NHS, my job status is also more stable than his.

My partner is very impatient and wants to get this house ASAP as he has already saved up enough money for the deposit (looking to get a £250-300k house), while I also have enough savings for fees and renovation costs. I, on the other hand, is concerned about my visa status.

Thanks in advance for your replies! :j

ethank

Most mortgage criteria want at least 2.5 years left on the visa. Whilst you will be offered an extension, it is not automatic. You need to make an extension application and it will be considered against criteria. I think the bigger deposit you have, the more flexible the lender will be as they will not be concerned about losing money.

haras_nosirrah

Yes it is possible and I have placed many many people in those circumstances but you will need a minimum of a 10% deposit.

A lot of lenders require 25% deposit if you do not have permanent leave to remain however there are a couple of lenders who are absolutely fine with it with a 10% deposit.

While the vast majority of lenders do need 2.5 yrs left on visa there are some that don't

muhandis

As Sarah says above.

From multiple experiences with friends/acquaintances on Tier 1/Tier 2 visas buying houses, their brokers have usually ended up placing them with either Halifax or TSB. But this is where both buyers are on Tier 2 visas.

In your place I would definitely contact a broker.

Good luck!

haras_nosirrah

Tsb are permanent right to remain. Just wouldn't want the op approaching them as it would be a waste of time.

muhandis

I don't know if it's changed but my close friend (she was on year 2 of her Tier 2 visa and husband on a dependent visa, nowhere close to ILR yet) definitely got a mortgage from TSB (at least up to the offer stage) last year end through Trussle. I know because I was her "mseforum" during the process so to speak

But now that you say this, I will check and feedback whether they did actually complete with TSB or not or had to change lenders.

haras_nosirrah wrote: »

Well done on getting my name right lol.

Tsb are permanent right to remain though. Just wouldn't want the op approaching them as it would be a waste of time.

TornSoldier

If one of you has British citizenship, Natwest treats the joint mortgage as local and provides loan up to 90% LTV. So I will suggest to contact them or go through a mortgage broker. There rate is better than Halifax etc

haras_nosirrah

from tsb website
Non EU States
We can proceed if the applicant has permanent rights to reside in the UK which must be evidenced by one of the following documents:

A Biometric Residence Permit showing ‘indefinite’ rights to remain (also known as permanent residence).
Indefinite/Right of Abode UK Residency stamp in the passport.
A letter from the Home Office confirming the applicant's 'indefinite' right to remain in the UK.

haras_nosirrah

op how long have you lived in the uk? Has it been over 2 yrs?

muhandis

She's definitely got a mortgage from TSB with her on a Tier 2 and husband on a dependent visa. I just checked with her.

Apparently both Halifax and TSB were willing to lend but they went with TSB because of a better rate.

And this is not even that long ago, around autumn/winter 2018.

I don't know how much they earn but the property was a SW London one which cost 800k+ so maybe the loan size has something to do with it. :think:

haras_nosirrah wrote: »

from tsb website
Non EU States
We can proceed if the applicant has permanent rights to reside in the UK which must be evidenced by one of the following documents:

A Biometric Residence Permit showing ‘indefinite’ rights to remain (also known as permanent residence).
Indefinite/Right of Abode UK Residency stamp in the passport.
A letter from the Home Office confirming the applicant's 'indefinite' right to remain in the UK.

haras_nosirrah

TSB can be flexible with criteria with a large deposit as long as the rest of the case is very good and the credit score is very clean - as a guess they must have had a 20% deposit or more. The large loan size probably helped.

Their standard criteria though is permanent right to remain.