Mortgage Broker Q & A – Moving from abroad
In Q & A we take at look at some of the common questions faced by mortgage brokers currently.
Question; I recently moved to the UK from abroad, when can I buy a property?
High street lenders will usually require you to have full permanent right to reside in the UK and to have been resident and working in the UK for a minimum period of time often a year or perhaps up to three years.
However there are exceptions to this and some private banking arms of major banks may be prepared to lend to you from the moment of your arrival in the UK regardless of whether you have permanent right to reside or not.
These arrangements though may be restricted to people with higher incomes (for example £50K a year) or high levels of existing assets.
For that reason there isn’t a black and white answer to this question so it’s usually best to seek professional mortgage advice, so if you would like to know call us on 08454594490 and speak to a mortgage advisor.