Mortgage with My Foreign Wife

konn1ch1ha

Hi all,

What advice can be given for my wife and I to get on the property ladder? We're looking to put 40-50% deposit on a property with a combined annual income of about £46k.

The tricky part is that she is a non-EU citizen on a spouse visa until summer 2021 and she earns a large proportion of our combined income. How eligible are we to get a mortgage on this information? Of course, we'll be renewing her visa when the time comes.

Can the mortgage be in my name but with a lower income? Or can it be in her name with a much higher income but visa immigration status? Or joint names?!

Thanks!

G_M

What did your independant mortgage broker advise?

konn1ch1ha

G_M wrote: »

What did your independant mortgage broker advise?

We haven't seen one yet.

G_M

Then my suggestion would be... errr... now where was I? What was I trying to say....?

theartfullodger

Different mortgage lenders, different rules.


As G_M is I think suggesting, speak to /go see an INDEPENDENT mortgage broker.



Also try
https://lmgtfy.com/?q=non-eu+citizen+uk+mortgage
- and 'phone a few of those who come up.

AdrianC

konn1ch1ha wrote: »

The tricky part is that she is a non-EU citizen on a spouse visa until summer 2021 and she earns a large proportion of our combined income. How eligible are we to get a mortgage on this information? Of course, we'll be renewing her visa when the time comes.

You hope you will. It's up to Priti Patel as to whether you actually do or not. Which, in your position, would give me cold sweats.

And that's precisely why it'll be hard for her to borrow so much money long-term. Because, right now, there's no guarantee she has the right to be here for more than the next year and a half.

Retired_Mortgage_Adviser

At 60% LTV, UK/EU borrower with wife on a family visa, assuming no other complications in the background, you should be ok getting a mortgage. It's not an uncommon scenario at all, especially in London.

As others have suggested, please speak to a whole of market broker who can look at the entirety of your circumstances and give you a realistic idea of if and how much you could potentially borrow.

Plenty of brokers recommended on the MSE page here. https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#brok

konn1ch1ha wrote: »

Hi all,

What advice can be given for my wife and I to get on the property ladder? We're looking to put 40-50% deposit on a property with a combined annual income of about £46k.

The tricky part is that she is a non-EU citizen on a spouse visa until summer 2021 and she earns a large proportion of our combined income. How eligible are we to get a mortgage on this information? Of course, we'll be renewing her visa when the time comes.

Can the mortgage be in my name but with a lower income? Or can it be in her name with a much higher income but visa immigration status? Or joint names?!

Thanks!

haras_nosirrah

Absolutely no issue placing this at all as long as credit score is ok. Lenders increase if she has been here for 3 years.

Speak to a broker. If you don't have one then look through the boards and pm a broker from here who you feel gives good advice. Most independent brokers should be able to place this without too many issues

movilogo

It is possible to buy house with non-EU passport. Plenty of people do that. As long as credit card is good and the person has legal status of at least next 2 years with possibility of getting settlement after that, no problem.

Some banks may not give mortgage though but those are exceptions than rules.

seradane

Same situation here. Currently in the process of buying.

The main requirements most lenders seemed to have was:
- Have been in the country at least 1 year (the more the better)
- Have at least one year remaining on the visa (this seemed to be the most strict of the requirements)
- Have minimum 25% deposit

The last one is only like the main high street lenders, as our independent mortgage broker was quite calm and relaxed about the whole visa obstacle and seemingly effortlessly found one that would only require 10% deposit.

So sounds like in your situation, with a big deposit, you'll be absolutely fine - just might need to get on the process sooner rather than later (or wait until her visa is renewed next year).

MCI

You need to see an independent mortgage advisor. It IS possible!

We are buying with a 15% deposit and I have been here just shy of 3 years, with over 2 years remaining on my current spouse visa. Actually the mortgage has been the easiest part of the whole process. Every bank had wildly different requirements so it's definitely worth having a broker look for one that works for your specific situation. IE some are strict about deposit but not time in country, some are the exact opposite, etc.

When you come in on a spouse visa, my understanding (and that in places like UK-Yankee which is helpful for immigration queries) is you generally come in on the rules that were in place when you started that route. In the OP's case I'm guessing that is the standard 5 year route to ILR, although obviously we know very little from the post. The fee can (and will) go up, but it should be the same requirements to fulfill for the spouse visa. So I wouldn't worry about Priti Patel pushing you out of the country as mentioned above. It's actually easier to fulfill the income reqs on the renewal as the foreign spouse's income counts as well once she's in the country.