blackgoose Posted April 6, 2011 Share Posted April 6, 2011 Reporting my situation - I am british citizen and have worked within the EU for several years and built up some decent savings. Now, I have been trying to get a mortgage to buy a property as a first time buyer. I can provide 45% deposit so very little risk here for the bank. However, they all seem to take delight in their rules that usually say that you have to have been working in the UK for the previous 2/3 years. What is annoying is that there is supposed to be no discrimination against EU nationals or workers, yet here they are doing it to me. Has anyone else been in this situation and did you find a solution? Quote Link to comment Share on other sites More sharing options...
The Ginger Winger Posted April 6, 2011 Share Posted April 6, 2011 Reporting my situation - I am british citizen and have worked within the EU for several years and built up some decent savings. Now, I have been trying to get a mortgage to buy a property as a first time buyer. I can provide 45% deposit so very little risk here for the bank. However, they all seem to take delight in their rules that usually say that you have to have been working in the UK for the previous 2/3 years. What is annoying is that there is supposed to be no discrimination against EU nationals or workers, yet here they are doing it to me. Has anyone else been in this situation and did you find a solution? No!...but then I have never worked abroad Quote Link to comment Share on other sites More sharing options...
Monkey Posted April 6, 2011 Share Posted April 6, 2011 The real descrimination is that they cant get you on a higher IR for the loan and lock ypu in to 50 years of debt slavery with loads of money in bonuses. There is a real fear thay you'll pay the debt off, possibly quicker than the set term thus making them less proffit. And if you do pay it off then who will pay for the bubbly at tje shareholders xmas ball? Quote Link to comment Share on other sites More sharing options...
Pauly_Boy Posted April 6, 2011 Share Posted April 6, 2011 Whilst I sympithise, you'll have a gap in your credit rating and I guess it also makes it possible that you're more likely to run away from any debts as you had another life in another country. The 45% deposit does pretty much reduce all their risks though, maybe they have no money left! Quote Link to comment Share on other sites More sharing options...
wherebee Posted April 6, 2011 Share Posted April 6, 2011 Have you tried one of the smaller building societies? They, in my experience, still can make decisions based on logic, not a computer (which says no). I used to use the Chesham, and they were very very flexible both when I worked overseas and also in between buying houses when I needed a mini-bridging loan for 3 weeks - charged me nothing but normal mortgage rates for the extra. In return, I used them as much as possible for everything else whilst in the UK. Loyalty, innit. I see they have now merged with the Skipton, dunno what they are like Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted April 6, 2011 Share Posted April 6, 2011 Reporting my situation - I am british citizen and have worked within the EU for several years and built up some decent savings. Now, I have been trying to get a mortgage to buy a property as a first time buyer. I can provide 45% deposit so very little risk here for the bank. However, they all seem to take delight in their rules that usually say that you have to have been working in the UK for the previous 2/3 years. What is annoying is that there is supposed to be no discrimination against EU nationals or workers, yet here they are doing it to me. Has anyone else been in this situation and did you find a solution? Ridiculously unfair, especially given your deposit, but don't have any suggestions. Have you tried a mortgage broker? Having said that, with the way the housing market is looking at present , you may thank them in 2 years when your 45% deposit is an 80% deposit. Quote Link to comment Share on other sites More sharing options...
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