Work to residency visa, mortgages and brokers!
#1
Just Joined
Thread Starter
Joined: Dec 2006
Posts: 9
Work to residency visa, mortgages and brokers!
Hi all,
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
#2
Re: Work to residency visa, mortgages and brokers!
We needed a 95% mortgage. Also came over on 30 month WTR visas. We went through ANZ who refer such high risk requests to Nationwide - a sort of separate company who take on such lending requests. We needed to get a survery of the house to prove it's market value and assure the Nationwide it was a sound investment. You do pay over the current floating rate but we asked for this to be done for 6 months (the mortgage itself was over 25 years) as we were applying for PR and once we had that granted we would be able to get a much better rate/fixed rate from ANZ or elsewhere.
Nationwide Home Loans freefone: 0800 663 444
(we spoke with Zac Star, Customer Management Specialist)
hope this helps. Good luck
Nationwide Home Loans freefone: 0800 663 444
(we spoke with Zac Star, Customer Management Specialist)
hope this helps. Good luck
#3
Joined: Apr 2006
Posts: 1,118
Re: Work to residency visa, mortgages and brokers!
Hi all,
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
#4
Just Joined
Thread Starter
Joined: Dec 2006
Posts: 9
Re: Work to residency visa, mortgages and brokers!
Thank you guys that's really helpful, I will indeed speak to these people!
#5
Re: Work to residency visa, mortgages and brokers!
Negotiate fees and any higher lending charges too
#6
Just Joined
Thread Starter
Joined: Dec 2006
Posts: 9
Re: Work to residency visa, mortgages and brokers!
Ahh that is great advice thank you all very much :-)
#7
Re: Work to residency visa, mortgages and brokers!
Hi all,
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
I am on a work to residency visa (two months in) and am researching mortgage options at the mo - I spoke to one broker, Roost , who said that my immigration status means that banks etc require 20% deposits on houses etc.
I wondered whether anyone had had similar experience, or whether anyone found any lender prepared to accept 10%? Or if anyone could recommend other brokers which they have used?
Thank you all!
Renting for me still...