ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Tier 2 Visa able to apply house mortgage and buy house in UK?

Only for UK Student Visas, formerly known as Tier 4 (General) student visa

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

Locked
alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Fri Jan 26, 2018 10:18 am

I want to ask about mortgage for buying a house in UK.

Let say I am holding a Tier 2 visa working visa, do I eligible to obtain for a mortgage for buying a house in UK? How about Tier 4 Student Visa?

I found in Natwest mortgage apply online which stated:

*Please tick to confirm all applicants:
Are paid in Pound Sterling
Have read 'How will you use my data'
Are UK or EU national ->>>> I am not UK national yet.
Are aged 18 or over
Are looking to buy or remortgage a residential property based in the UK
Have not been declared bankrupt in the last 6 years
Have not had a County Court Judgement against them in the last 6 years
Have not had a property seized or defaulted on a mortgage
Have not organised a repayment plan with creditors

Wanderer
Diamond Member
Posts: 10511
Joined: Thu Apr 21, 2005 12:46 pm
Ireland

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by Wanderer » Fri Jan 26, 2018 12:13 pm

As long as you can show you can afford to repay the mortgage no problem. However being on a transient visa would mean being lumbered with higher interest rate and a larger deposit being required.

There are lots of specialist mortgage brokers about, you just need to use some search nous in Google to find them. Most likely you'd struggle with the mainstream lenders, though these brokers can help present your case with them to give you a better chance with them.
An chéad stad eile Stáisiún Uí Chonghaile....

fielddrive
Senior Member
Posts: 602
Joined: Thu Sep 27, 2012 1:03 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by fielddrive » Fri Jan 26, 2018 12:15 pm

You need a good financial advisor who has experience in dealing with mortgages for Tier 2 holders.

If your situation allows, then you will be able to get a mortgage as have many others with Tier 2 visa.

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Fri Jan 26, 2018 12:43 pm

Wanderer wrote:
Fri Jan 26, 2018 12:13 pm
As long as you can show you can afford to repay the mortgage no problem. However being on a transient visa would mean being lumbered with higher interest rate and a larger deposit being required.

There are lots of specialist mortgage brokers about, you just need to use some search nous in Google to find them. Most likely you'd struggle with the mainstream lenders, though these brokers can help present your case with them to give you a better chance with them.
I was thinking everyone having the same house loan interest rate with same bank?
Do you mean different visa will have different interest rate? Is that mean, is kind of unfair.

Should I look for house first or look for mortgage brokers first?

User avatar
CR001
Moderator
Posts: 86821
Joined: Thu Mar 08, 2012 10:55 pm
Location: London
Mood:
South Africa

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by CR001 » Fri Jan 26, 2018 12:51 pm

alex132 wrote:
Fri Jan 26, 2018 12:43 pm
Wanderer wrote:
Fri Jan 26, 2018 12:13 pm
As long as you can show you can afford to repay the mortgage no problem. However being on a transient visa would mean being lumbered with higher interest rate and a larger deposit being required.

There are lots of specialist mortgage brokers about, you just need to use some search nous in Google to find them. Most likely you'd struggle with the mainstream lenders, though these brokers can help present your case with them to give you a better chance with them.
I was thinking everyone having the same house loan interest rate with same bank?
Do you mean different visa will have different interest rate? Is that mean, is kind of unfair.

Should I look for house first or look for mortgage brokers first?
Yes, it varies greatly depending on your circumstances and as you are not 'settled', i.e hold ILR, you likely not get the best deal.

Not unfair, mortgage companies protecting their interest. No guarantee you will get ILR.

This question however is also got nothing to do with immigration really, so you should contact a good mortgage advisor.

I would suggest you focus on getting a tier 2 visa first given that you currently hold a Tier 4 student visa.
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

UKLL
Member of Standing
Posts: 388
Joined: Tue Oct 24, 2017 5:44 pm
Malaysia

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by UKLL » Fri Jan 26, 2018 7:30 pm

different bank has different offers and the same bank has different offers too. The interest can be different depending on how many years you want the Morgage for and how many years you want it fixed etc.

Different bank has their own rules regarding providing mortgage to Tier 2 holders. When I was buying my house some banks were ok with my visa some weren’t so it depends

You won’t be able to get a mortatage with Tier 4 visa, unless you earn significant and stable money from “20 hours per week”

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Mon Jan 29, 2018 1:38 pm

UKLL wrote:
Fri Jan 26, 2018 7:30 pm
different bank has different offers and the same bank has different offers too. The interest can be different depending on how many years you want the Morgage for and how many years you want it fixed etc.

Different bank has their own rules regarding providing mortgage to Tier 2 holders. When I was buying my house some banks were ok with my visa some weren’t so it depends

You won’t be able to get a mortatage with Tier 4 visa, unless you earn significant and stable money from “20 hours per week”
Thank you for your reply.
Can I ask you about "Help to buy ISA" where deposit every month £200 and government will help with deposit?
Is Tier 4 student visa/Tier 2 sponsor visa able to use that?

UKLL
Member of Standing
Posts: 388
Joined: Tue Oct 24, 2017 5:44 pm
Malaysia

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by UKLL » Mon Jan 29, 2018 8:20 pm

I don't think non-UK citizen is eligible for Government help to buy scheme

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Tue Jan 30, 2018 9:02 am

UKLL wrote:
Mon Jan 29, 2018 8:20 pm
I don't think non-UK citizen is eligible for Government help to buy scheme
However, I am able to open this account, Help to Buy Scheme.

UKLL
Member of Standing
Posts: 388
Joined: Tue Oct 24, 2017 5:44 pm
Malaysia

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by UKLL » Tue Jan 30, 2018 4:46 pm

alex132 wrote:
Tue Jan 30, 2018 9:02 am
UKLL wrote:
Mon Jan 29, 2018 8:20 pm
I don't think non-UK citizen is eligible for Government help to buy scheme
However, I am able to open this account, Help to Buy Scheme.
Doesn't mean you can get it, does it? Let me know if you do

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Wed Jan 31, 2018 8:35 am

UKLL wrote:
Tue Jan 30, 2018 4:46 pm
alex132 wrote:
Tue Jan 30, 2018 9:02 am
UKLL wrote:
Mon Jan 29, 2018 8:20 pm
I don't think non-UK citizen is eligible for Government help to buy scheme
However, I am able to open this account, Help to Buy Scheme.
Doesn't mean you can get it, does it? Let me know if you do
Did you get rejected applying Government help to buy scheme when buy house as non-UK citizen?
I have not ask, but did not read anywhere saying non-UK citizen unable to apply "Government help to buy scheme "

UKLL
Member of Standing
Posts: 388
Joined: Tue Oct 24, 2017 5:44 pm
Malaysia

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by UKLL » Wed Jan 31, 2018 5:37 pm

alex132 wrote:
Wed Jan 31, 2018 8:35 am
UKLL wrote:
Tue Jan 30, 2018 4:46 pm
alex132 wrote:
Tue Jan 30, 2018 9:02 am
UKLL wrote:
Mon Jan 29, 2018 8:20 pm
I don't think non-UK citizen is eligible for Government help to buy scheme
However, I am able to open this account, Help to Buy Scheme.
Doesn't mean you can get it, does it? Let me know if you do
Did you get rejected applying Government help to buy scheme when buy house as non-UK citizen?
I have not ask, but did not read anywhere saying non-UK citizen unable to apply "Government help to buy scheme "
To qualify for a Help to Buy: ISA you must:

be 16 or over
have a valid National Insurance number
be a UK resident
be a first time buyer, and not own a property anywhere in the world

My understanding is that UK resident means permanent residency. I didn't apply for Help to Buy.

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

"be a UK resident" mean stay in UK?

Post by alex132 » Thu Feb 01, 2018 8:30 am

Just one question, I am holding Tier 4 student visa.
I saw one of the requirement for "Help to Buy: ISA" stated that:
To qualify for a Help to Buy: ISA you must:

be 16 or over
have a valid National Insurance number
be a UK resident
be a first time buyer, and not own a property anywhere in the world

Any idea "be a UK resident" mean stay in UK?
I am international student can stay in UK, does not hold ILR.
Last edited by vinny on Thu Feb 01, 2018 9:38 am, edited 1 time in total.
Reason: Link added

vinny
Moderator
Posts: 32757
Joined: Tue Sep 25, 2007 7:58 pm

Re: "be a UK resident" mean stay in UK?

Post by vinny » Thu Feb 01, 2018 9:29 am

Ask them how they define the term "UK resident".
This is not intended to be legal or professional advice in any jurisdiction. Please click on any given links for further information. Refer to the source of any quotes.
We do not inherit the Earth from our ancestors, we borrow it from our children.

vinny
Moderator
Posts: 32757
Joined: Tue Sep 25, 2007 7:58 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by vinny » Thu Feb 01, 2018 9:35 am

This is not intended to be legal or professional advice in any jurisdiction. Please click on any given links for further information. Refer to the source of any quotes.
We do not inherit the Earth from our ancestors, we borrow it from our children.

sah10406
Diamond Member
Posts: 3599
Joined: Sun Apr 20, 2008 10:09 am

Re: "be a UK resident" mean stay in UK?

Post by sah10406 » Thu Feb 01, 2018 9:41 am

It sounds like you are looking at a bank's criteria for buying a specific financial product.

"Resident" has no specific meaning in immigration terms. I advise you ask the bank what they mean by it in this context.
I do not give immigration advice. I refer you to Immigration Rules, guidance, other online content and to your sponsor.

vinny
Moderator
Posts: 32757
Joined: Tue Sep 25, 2007 7:58 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by vinny » Thu Feb 01, 2018 9:50 am

In the Scheme rules, in Schedule 5, you have to sign this declaration:
I am resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of section 28 of the Income Tax (Earnings and Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or I am married to, or in a civil partnership with, a person who performs such duties.
This is not intended to be legal or professional advice in any jurisdiction. Please click on any given links for further information. Refer to the source of any quotes.
We do not inherit the Earth from our ancestors, we borrow it from our children.

alex132
- thin ice -
Posts: 172
Joined: Tue Nov 08, 2016 12:43 pm

Re: Tier 2 Visa able to apply house mortgage and buy house in UK?

Post by alex132 » Thu Feb 01, 2018 3:38 pm

vinny wrote:
Thu Feb 01, 2018 9:50 am
In the Scheme rules, in Schedule 5, you have to sign this declaration:
I am resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of section 28 of the Income Tax (Earnings and Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or I am married to, or in a civil partnership with, a person who performs such duties.
Thank you very much! It means non-UK citizen or ILR able to apply.

Locked
cron