Hello
Guest

Sponsored Links


Topic: Mortgages without ILR?  (Read 7916 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 85

  • Liked: 7
  • Joined: Apr 2013
Mortgages without ILR?
« on: January 13, 2016, 02:11:26 PM »
Just wondering if anyone has had experience getting a mortgage without ILR? My husband (UKC) and I (USC) are thinking of buying a home within the next couple of years and I'm wondering how much me not having ILR will limit our options. When I've enquired at various banks I've been met with mixed messages.

Thanks!


  • *
  • Posts: 18235

  • Liked: 4985
  • Joined: Jun 2012
  • Location: Wokingham
Re: Mortgages without ILR?
« Reply #1 on: January 13, 2016, 02:15:25 PM »
I do not have ILR and I have a mortgage!  It can be done.  :)

We worked with a mortgage broker who ensured she did not show us any options that would not lend to us.  In the end, we only had a 10% deposit (we kept our other home and converted it to a Buy to Let, but that house is only in my husband's name.  It had all of our equity tied up in it).  We had a pretty competitive rate on a 2 year fix term.

The one thing they DO want, is for you to have a decent amount of time remaining on your current visa.  That's why we applied straight after I was granted my second FLR(M).  If I had had less than a year or 18 months on my visa, it would have been more restrictive.

Good luck!


  • *
  • Posts: 85

  • Liked: 7
  • Joined: Apr 2013
Re: Mortgages without ILR?
« Reply #2 on: January 13, 2016, 02:35:41 PM »
Thanks KFDancer! Good to know. As always, your response is so appreciated (and helpful!)


  • *
  • Posts: 18235

  • Liked: 4985
  • Joined: Jun 2012
  • Location: Wokingham
Re: Mortgages without ILR?
« Reply #3 on: January 13, 2016, 02:40:50 PM »
I would highly recommend working with a mortgage broker.  They do all the leg work for you and find the best deals.  The cost of their service is covered by the lender, so no additional out of pocket expense for you.  :)


  • *
  • Posts: 1134

  • Liked: 170
  • Joined: Oct 2012
  • Location: York
Re: Mortgages without ILR?
« Reply #4 on: January 13, 2016, 08:47:23 PM »
My (UKC) husband and I got a mortgage about 6 weeks before I applied for ILR, about 10 weeks before my visa was due to expire... In theory the ILR could have been rejected. We went through a broker (London and Country), which made our lives easier. We went into two banks who said I couldn't be on the mortgage before we called up the broker. We got a great deal too, but we had a pretty hefty deposit (25%) which probably helped!
2004-2008: Student Visa
2008-2010: Tier 1 PSW
2010-2011: Tier 4
2011-2014: Tier 2
2013-2016: New Tier 2 (changed jobs)
16/12/15: SET (LR) successful! - It's been a long road...
12/05/16: Citizenship ceremony!


  • *
  • Posts: 6584

  • Liked: 1891
  • Joined: Sep 2015
Re: Mortgages without ILR?
« Reply #5 on: January 14, 2016, 02:23:33 PM »
I had a similar experience trying to get a mortgage with a visa that was just about to expire.  Our mortgage broker, John charcoal was happy to find someone who would give us a mortgage anyway, at a significantly higher interest rate. 


Sent from my iPhone using Tapatalk


  • *
  • Posts: 85

  • Liked: 7
  • Joined: Apr 2013
Re: Mortgages without ILR?
« Reply #6 on: April 22, 2016, 04:24:07 PM »
Hi again everyone,

We finally have the money together for a deposit to buy a house (yay!) I live in quite a rural part of the U.K. and the mortgage broker I spoke to today acted like I was some kind of alien from out of space ('No one here has ever dealt with a situation as complicated as this' And by complicated he simply meant that I'm an American who won't have IRL for two more years...)

I was wondering if any of you who got mortgages without IRL would mind sharing what bank gave you the mortgage? If so, it would be a huge help in terms of looking into what our options might be...

Thanks as always


  • *
  • Posts: 18235

  • Liked: 4985
  • Joined: Jun 2012
  • Location: Wokingham
Re: Mortgages without ILR?
« Reply #7 on: April 22, 2016, 04:47:35 PM »
Halifax


  • *
  • Posts: 85

  • Liked: 7
  • Joined: Apr 2013
Re: Mortgages without ILR?
« Reply #8 on: April 22, 2016, 04:53:38 PM »
Thank you! Was actually looking at them earlier today! x


  • *
  • Posts: 1134

  • Liked: 170
  • Joined: Oct 2012
  • Location: York
Re: Mortgages without ILR?
« Reply #9 on: April 22, 2016, 07:05:32 PM »
Thank you! Was actually looking at them earlier today! x

London and Country Mortgages (even though we live n Yorkshire)! They were great and even got a better rate than advertised!
2004-2008: Student Visa
2008-2010: Tier 1 PSW
2010-2011: Tier 4
2011-2014: Tier 2
2013-2016: New Tier 2 (changed jobs)
16/12/15: SET (LR) successful! - It's been a long road...
12/05/16: Citizenship ceremony!


  • *
  • Posts: 502

  • Liked: 111
  • Joined: Oct 2013
Re: Mortgages without ILR?
« Reply #10 on: April 22, 2016, 11:25:11 PM »
I have no idea if it still exists but mine was through Birmingham Midshires.


  • *
  • Posts: 219

  • Liked: 24
  • Joined: Sep 2013
  • Location: Worcestershire, UK
Re: Mortgages without ILR?
« Reply #11 on: May 21, 2016, 07:18:22 PM »
As other people have mentioned, working with a mortgage broker is the way to go in this situation. They are very knowledgeable and are able to eliminate mortgage options that are unfeasible. I moved to the UK (from the US) in October 2013 and by May 2014 my husband and I had a mortgage with Natwest, 2.2% 4-year fixed term. I had my first spouse visa when we applied for the mortgage (I am about to apply for the FLR-M; appointment is on Tuesday...).

Good luck!


  • *
  • Posts: 55

  • Liked: 1
  • Joined: Jul 2008
Re: Mortgages without ILR?
« Reply #12 on: July 08, 2016, 01:54:53 PM »
Here to say I got a mortgage without ILR via Halifax! On my first FLRM. And worked with a broker as 4 of us were purchasing - 2 couples, 3 UKC and 1 USC, 2 FT employed (me and the other guy) and 2 self employed (my husband and the other woman) so it was complex and limited where we could get a mortgage from.

Ours is 2.25% 2 year fixed rate.


Sponsored Links





 

coloured_drab