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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.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. YOU DO NOT HAVE TO PAY A FEE FOR OUR SERVICES AS WE RECEIVE COMMISSION FROM LENDERS. IF YOU PREFER YOU CAN PAY 1% FEE ON COMPLETION AND WE WILL PAY ANY COMMISSION WE RECEIVE TO YOU. SOME BUY TO LET AND COMMERCIAL LOANS ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
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