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Topic: Query re mortgage whilst on FLR and level of assets  (Read 1078 times)

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Query re mortgage whilst on FLR and level of assets
« on: November 20, 2006, 03:07:52 PM »
I am a lot confused  [smiley=dunce.gif], we have contacted an independent financial advisor in the hopes of getting a mortgage to get away from living with my family!

He has stated that it would be better for me to get the mortgage in my name, as there is a level of assets that a US citizen can have in the UK, and a house would go over that barrier.  Has anyone else came across this before?

Has anyone else had trouble getting a mortgage whilst on FLR, I have been through the forum topics, but it got very confusing and some points touched on the little stumbling block we have, but didn't go into a lot of detail.

Would people recommend renting until ILR is approved? or going for a mortgage?

THanks in advance!
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Re: Query re mortgage whilst on FLR and level of assets
« Reply #1 on: November 20, 2006, 03:15:56 PM »
i bought a house here in the UK while on FLR.  i needed to have at least 2 years left and needed to put down a decent deposit.  besides that no issues.  i consulted my UK & US accountant and neither had a problem with me owning a house in the UK.

not sure what your financial advisor meant... would be good to get specifics...
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Re: Query re mortgage whilst on FLR and level of assets
« Reply #2 on: November 21, 2006, 07:49:53 AM »
I will get back to you on that one, I am doing this via a friend at the moment so it's a little bit like chinese whispers!
Money talks, but chocolate sings!


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