Get a UK Ancestry Visa Mortgage

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Get a UK Ancestry Visa Mortgage Mortgage Guardian

Get a UK Ancestry Visa Mortgage

Get a UK Ancestry Visa Mortgage – Mrs Wilson approached us, an Australian lady who wanted to apply for a UK ancestry visa mortgage. She had agreed with her British husband on the purchase of a two bedroom house and therefore contacted us. They had decided to settle on a property in Golders Green, London for just under £600,000. It was determined that they would need a UK ancestry visa mortgage because of the visa situation. This is also because they did not have the funds to pay for a property outright and would need a mortgage.

Background

They had been renting locally for five years and therefore wanted their own home. Mr & Mrs Wilson had recently decided that they wanted to stay in London rather than go back to Australia. Both had well paid jobs in London with opportunities for career advancement so decided to buy in London. A sizable deposit had also been saved a long with a gift from relatives.

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Circumstances

I spent some time getting to know their circumstances and discovered that Mrs Wilson was a foreign national. Her stay in the UK was with the aid of a Visa. She did not have indefinite right to remain in the UK which can cause cause difficulties when getting a mortgage. Mr Smith is a British citizen so there were no issues for him. Incidentally, he did not have enough income to take out a mortgage in just his name. This is a classic case of finding out which lenders would accept foreign national applicants with Ancestry Visa’s. We then had to find the overall best deal for them from the lenders available.

Visa

We found out that the main issue was Mrs Wilson had UK Ancestry Entry Clearance. This is often referred to as an Ancestry Visa. An Ancestry Visa is issued to people from Commonwealth countries. She would need to have had grandparents who were born in the United Kingdom, Channel Islands and Isle of Man. This entry clearance enables Mrs Wilson to live and work in the United Kingdom but it does not give indefinite right to remain. Indefinite right to remain can be applied for at the appropriate time.

Indefinite Leave to Remain

We know that most lenders insist on applicants having an indefinite right to remain in the UK. This can be a problem when obtaining a UK ancestry visa mortgage. Finding lenders who will provide UK ancestry visa mortgages is down to our own experience.

Our Commitment

Additionally, it is our job to get the mortgage approved. This sometimes means we have to know the lenders criteria better than them in order to get the case through. Usually we have to use our experience to get the applicants through the mortgage process. Our thorough research reveals which lender will be best. Whilst we do have the latest information at our fingertips, modern research facilities do not tell us everything. We need to know which lenders provide UK ancestry visa mortgages. This quite often means researching the old fashioned way and picking up the phone to the mortgage lenders direct. This means discussing specific lending criteria about applicants with Ancestry Visa’s. This is where a combination of experience and access to the latest lending criteria information is vital.

Success

Eventually the mortgage was placed with a mainstream mortgage lender and a good rate was offered. I could not help thinking that the applicants probably would not have been able to get a mortgage without the help of a mortgage broker.

They took out a 30 year term repayment mortgage because it coincided with retirement. The mortgage was with a mainstream lender which was fixed for 2 years at 1.89%. They were obviously delighted at being able to get on the property ladder because they have their own home now. This is after many years of renting in both Australia and New Zealand.

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Get The Most Suitable Mortgage for Your Needs

Call Chris

Mortgage Guardian

0115 714 1988

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Watch on YouTube: Getting a Mortgage with an ancestry Visa | Mortgage Guardian

A short explanation on getting a Mortgage if you or your partner is living and working the United Kingdom on an Ancestry Visa.

Additional Information

Also, if you still require more information about Ancestry Visa Mortgages and the process then please visit our other website:

This page also covers:

  • Ancestral Visa Mortgages
  • UK Ancestry Visa Mortgage
  • British Ancestry Visa Mortgage

 

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