sorry to bother you all again, but can you anyone let me know if you need to be a PR before you can buy a house, or could i buy one when i only have a WP.
ta
paul

No you don't need pr, but bear in mind that different provinces have differing laws about how much non-residents can buy.

For example in Alberta a non resident can only buy no more than two titles not exceeding 20 acres, I believe that Manitoba has a similar thing however if you can prove you will be staying then you can buy anything etc etc.

Look at the link here to mortgages and property in the WIKI section and should give you more information.

Also consider that you will in all likelyhood get a much better mortgage rate after you are landed (and perhaps have established a local credit rating)

Downpayments for not PRs tend to start a lot higher up, but you do hear the occasional story to contradict that.

The thing about non-residents was not in any of the Wikis, MMC, but I've just added it to the one about House Buying. I tried to give you karma for raising the point, but was told to spread it around some more before giving you any more.
x

Thanks Judy, I know the bit about Alberta is correct, maybe members from other provinces can share their knowledge about the "land ownership whilst not a PR" laws for their own areas?

You can buy a home on a WP but you will need to put down a deposit of at least 35%.

If at a later date you get PR and have created a good credit rating for yourself, you can then increase your mortgage up to 95%.

thanks all, we will be taking a large amount with us from the sale of our home here in the uk, so that should be fine

We will also be moving on a TWP and were told by a broker in BC that we would need 25% deposit. When we went to the show at Sandown earlier this month a company there said they would accept less than 25% as well.

may we ask what show that was

That would be the Emigrate Show - sponsored by outbound publishing (who publish Emigrate Canada - formerly Canada News).

The shows are in different parts of the UK - twice a year. The next ones are
Liverpool and Coventry in October

http://www.emigrate2.co.uk/shows_and_publications.htm

We were at Sandown as exhibitors. And as I understand it 35% down gets you a mortgage no bother (or Canadian credit history) and you can get away with less down if you have a job and have passed your probationary period.

Warmly,

Frank