Home loan vs HSMP application

Dear all,

Can you please suggest what impact my HSMP application will have if I have a home loan running ? Will it be considered as a financial obligation in my name and may go against a successful HSMP approval ?

How can I use this fact in my favor ? Please share your suggestions or experiences.

regards,

NS

HSMP application is concerned with yr earnings mainly

yr obligations are not importantother than a mention in yr finance ie

r u owning a house or paying mortage that all

NitinS wrote:Dear all,

Can you please suggest what impact my HSMP application will have if I have a home loan running ? Will it be considered as a financial obligation in my name and may go against a successful HSMP approval ?

How can I use this fact in my favor ? Please share your suggestions or experiences.

regards,

NS

No Impact on your application.

Sushil-ACCA

PostPosted: Sat Oct 24, 2009 11:14 pm Post subject:

....r u owning a house or paying mortage that all

I am in India, New Delhi right now. Will be hopefully applying for Tier 1 (General) for me and my wife next year. I have a loan in my name for a property which I do not own right now. My earlier post was a doubt regarding the same home loan in my name.

Another concern:

I am 28, earning well in India (7 figures) courtsey my s/w dev (Java, fixed income finance) experience of 5+ years, my wife will soon join a govt job (executive role) but still we want to move to UK, do not know the reason for this fascination

Although I have prior experience living in UK for around 8 months, it would still be a big risk leaving my job and search for a new one.

I would appreciate if senior folks on this forum have sth to say on this dilemma? Will it be a right step??

I forgot to say a thanks for your kind replies. Thanks to everyone who is finding time to answer my dumb questions.

NitinS wrote:Another concern:

I am 28, earning well in India (7 figures) courtsey my s/w dev (Java, fixed income finance) experience of 5+ years, my wife will soon join a govt job (executive role) but still we want to move to UK, do not know the reason for this fascination

Although I have prior experience living in UK for around 8 months, it would still be a big risk leaving my job and search for a new one.

I would appreciate if senior folks on this forum have sth to say on this dilemma? Will it be a right step??

Quite open and debated question on this forum. Everybody has their own priorities, motivations and choices. It's all your choice as per your personal circumstances.Some come to earn, some to further their career, some for better lifestyle/living standards and some just becaiuse they think life is easy in UK. What is your motivation? In many aspects life in India is better. If you wanna come to UK only for the sake of earning money than I would advice to weigh situations properly before making a move. Remember your wife's job is also on line here.If you wanna come to UK to further your career by doing any further courses etc. then check your preparation for that course to make sure you don't waste time once you are here.

Many people have different views on this question. I would assess market first before making move whereas some think you should jump in water to learn swimming. It depends on your appetite to take risk and stand by your decision in the face of adversity.