Mortgage

[ladel]

Hi All,

I came in on HSMP in 07 and now on T1(flr),
Does anyone know if i can tke a mortgage wt my status? Someone told me i can but i thot a forum like this would be best to get appropriate answer.

Thanks

[chakku71]

Hi All,

I came in on HSMP in 07 and now on T1(flr),
Does anyone know if i can tke a mortgage wt my status? Someone told me i can but i thot a forum like this would be best to get appropriate answer.

Thanks

Mortgage has nothing to do with the visa- you just need to be a UK resident over the previous 1 year. However some banks (Nationwide, Alliance and Leister etc) would only give loans to people who have permanent residency. Its is the banks decision as giving loans for people not having a permanent right of abode can be perceived to be risky (if you leave the country prematurely and if the asset you have mortgaged have fallen in value or if 'burnt down'). I got my mortgage when I was on HSMP and my visa was due to run out in less than an years time (Halifax). I did give them a copy of the job contract as a surety to get my mortgage application through as banks do not necessarily ask for it. You may also have to give at least 10% of value as a deposit to secure the loan (which I did).