Post
by shahmir » Sun Mar 17, 2013 11:27 pm
I am on tier 1 and have mortgage. In fact HSBC told me that if you can prove your income sources even if your income is coming from abroad, then too you can buy a property on mortgage. However other conditions apply. For example HSBC gives you a mortgage unless you have settled status. Some banks give you mortgage when you have at least two years remaining leave/visa. Barclays and Natwest are the best for migrants. Also try Halifax.
I got it from Natwest, just need to show income proof of last three months. Further advise is that go to banks and ask how much can they lend you. Based on your financial circumstances, they will set an amount for example they will tell you that they can lend you 90,000 if you can pay initial deposit of 10000 for a house worth 100k. Ask them for a certificate for this offer/quote which normally expires after three months.
So then you will know that your limit is 100k when you are searching for a property. 'First time buyers' always get good deals. Search as much as you can before you decide.
If still problems, just go to brokers. They will charge you some extra money, but they always have best offers available. In fact, go to banks, then go to brokers, finally make a comparison, and then goodluck!
lets get together for migrants' rights
