Mortgage chance for newbie in UK

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Rocksolid
Rocksolid Posts: 317 Forumite
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in Mortgages & endowments
Hello,


I'm less that one year in UK and I'm wondering how much a lender may be willing to give me a mortgage, regardless the amount for now.


Do you think is required at least 3 years of permanence here or I can try even now? I ask because this will result in my credit history and is not good if I already know it will fail :D , plus I have few request for loans (my mistakes, I didn't know they were hard checks), and I didn't get them for my short time of permanence in UK, this was after 3 months I came here.
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  • kingstreet
    kingstreet Posts: 38,770 Forumite
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    EU/EEA or not?
    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.
  • Rocksolid
    Rocksolid Posts: 317 Forumite
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    EU, why?

    Adding a bit of text for minimum text required
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    Rocksolid wrote: »
    EU, why?

    Adding a bit of text for minimum text required

    Because Kingstreet is a broker and there is a reason because he/she knows what lenders like and do not like.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • kingstreet
    kingstreet Posts: 38,770 Forumite
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    You should have at least three lender options open to you and any decent broker will know who they are and if you fit their other criteria.

    Non-EU/EEA means visa duration requirements and/or LTV limits.
    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.
  • Rocksolid
    Rocksolid Posts: 317 Forumite
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    Yes but this means to do 3 applications=3 hard checks, right?
  • Edi81
    Edi81 Posts: 1,444 Forumite
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    No it means finding a lender that has the product and other criteria most suitable for you.
    The hard search will only happen you make the application.
  • LRmortgage
    LRmortgage Posts: 484 Forumite
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    There should be options for you. Speak to a broker who understands your circumstances and they should be able to place with one lender rather than many applications.
    I am a Mortgage Adviser
    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.
  • Rocksolid
    Rocksolid Posts: 317 Forumite
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    edited 15 January 2020 at 5:00PM
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    Thanks to all, currently I'm evaluating with a soft search (I didn't know about it), called Decision in Principle.
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
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    Rocksolid wrote: »
    Thanks to all, currently I'm evaluating with a soft search (I didn't know about it), called Decision in Principle.

    Are you picking random lenders ? Your better off with a whole of market broker as suggested.
  • Rocksolid
    Rocksolid Posts: 317 Forumite
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    foxy-stoat wrote: »
    Are you picking random lenders ? Your better off with a whole of market broker as suggested.


    An advisor is taking care of it.
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