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Advice from brokers - Joint mortgage - foreign partner
geocatwest
Posts: 29 Forumite
I am UK citizen and my partner is a foreign national, currently on a spousal visa, expiring April 2022.
We both have permanent full time roles. We have a LTV deposit of around 70-75% at the moment.
1. From my perspective, it seems unlikely a bank would accept a joint mortgage with a few months remaining on a visa. Is it best to wait until renewal?
2. As it's not a straight forward case, I was wondering if it was best to go via a free broker, like Habito, L&C etc, or going via a more specialised one that has experience with this, knows the market? If that's the case (and I don't know if brokers can post their service on here, but to contact me with suggestions)
We both have permanent full time roles. We have a LTV deposit of around 70-75% at the moment.
1. From my perspective, it seems unlikely a bank would accept a joint mortgage with a few months remaining on a visa. Is it best to wait until renewal?
2. As it's not a straight forward case, I was wondering if it was best to go via a free broker, like Habito, L&C etc, or going via a more specialised one that has experience with this, knows the market? If that's the case (and I don't know if brokers can post their service on here, but to contact me with suggestions)
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Comments
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As a foreign national I don't think I've ever been asked by a bank about my visa. They've always only seemed to be concerned about whether I'm planning on changing my employment. Then again the last remortgage was 4 years back and the rules keep changing.
Is there any reason why the visa might not be renewed? I've got indefinite leave to remain but the bank doesn't know that.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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The bank asked for a copy of my visa (ILR) when I remortgaged. Depends on the bank I guess.0
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We managed to get a mortgage from Halifax (85% LTV) last Nov 2019, on a spouse visa with expiry March 2020. I suggest getting a mortgage adviser.0
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The brokers on here aren’t allowed to contact you or make recommendations. You can contact them however.0
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with 25% deposit you should have most lenders open to you. With less than that they can get funny about visa's but over 25% most are fine.0
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When is the partner able to get permanent residency?
Its a risk not only for the lender but for yourself if they decide to not renew the visa and leave you with paying the mortgage on the house despite joint names.Mortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £55,819
Cc debt free.0
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