Question about line of credit for non-citizens

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Question about line of credit for non-citizens

    Hi everyone! I am a non-citizen of the UK and I own a house in London (no mortgage). I live in the house and have a work visa. Does anyone know of any lenders who will give me a line of credit against the equity in my house? I want to use this money to place deposits on future house purchases. Many thanks!

    #2
    You might want to speak with Handelsbanken at a branch close to where you reside , they have a conservative approach to lending but may be prepared to grant a drawdown facility against a low loan to value, alternatively if your own bank is international they too might be worth talking with.
    remember there are always Private Lenders in the market but deware andbefore signingcount your fingers.

    Comment


      #3
      Thank you so much. This is very helpful to me. I will make enquiries of international banks as you suggest. Do you know of any places where I should begin my search for Private Lenders? Thanks!

      Comment


        #4
        Private Lenders ( Not Authorised Banks ) make their borrowing facilities available through specialist Intermediary channels , I would strongly discourage you from the avenue of funding.

        I will do some research into any possible alternative sources and revert shortly.

        Comment


          #5
          You should visit your local branch of Halifax bank or Nationwide BS and ask if you qualify for residential mortgage loan

          Comment

          Latest Activity

          Collapse

          • Reply to Positive News for Landlords
            by loanarranger
            You make a fair point and one which I cannot but agree with but as with what I try to do on the Forum I simply report the news and media comment from lenders and other related parties.
            10-04-2021, 15:30 PM
          • Positive News for Landlords
            by loanarranger
            I am detailing an article which has appeared in a leading Trade publication and written by Bob Young C.E.O of Fleet Mortgages which sets out his thoughts and the information gleaned from the recent Capital Economics Report on the Housing Sector. Well worth reading over a cup of coffee

            "...
            10-04-2021, 11:23 AM
          • Reply to Positive News for Landlords
            by royw
            Sounds like spin to me. There's a stamp duty holiday but the price increase in my area far exceeds the tax saving. Not sure how that benefits Joe Public. Funny how they are completely blind to the problem of evicting non paying tenants, added costs with eicr and EPC and potential removal of S21. I haven't...
            10-04-2021, 13:11 PM
          • Reply to Mortgage News
            by loanarranger
            Halifax improves the transparency for Non UK Nationals
            Halifax overhauls mortgage criteria for all non-UK national applicants

            by: Owain Thomas

            Halifax is overhauling its mortgage application criteria for all non-UK nationals following Brexit.


            Many lenders have been...
            10-04-2021, 11:28 AM
          • Mortgage News
            by loanarranger
            The following article has appeared in one of the Mortgage Trade journals reporting on views expressed by the Association of Mortgage Intermediaries an influential trade body within the mortgage industry.

            "Mortgage rates are likely to rise in the first quarter of 2016 as lenders look...
            23-12-2015, 19:43 PM
          • Reply to Advice on first purchase
            by loanarranger
            Gordon thanks for clarifying what I tried to communicate.

            The normal minimum age of an applicant is 21 and sometimes 25 but there are several lenders including Clydesdale who will accept persons having attained 18 years of age
            10-04-2021, 09:40 AM
          • Advice on first purchase
            by Muggy0101
            Hello there. I’m just looking for some advice really. For the longest time I’ve always wanted to do what my father and my family do which is be a landlord for a second income. However I’m quite muddled as to what I need to achieve before I can.

            I’m 20 year old working full time...
            07-04-2021, 23:52 PM
          • Reply to Advice on first purchase
            by Gordon999
            Muggy0101,

            I think what loanarranger means by "Involvement of your father" is to buy the first rental property in joint names with your father; and you can register the buyers as "tenants in common" to take a larger interest in the property.

            ...
            10-04-2021, 06:23 AM
          • Reply to Tenants in common: Individual names and Limited company on one title
            by nukecad
            No confusion on my part, I'm just pointing out that rewording your proposal using simpler language may get you further.

            I'm not the one having a problem with getting accountants/solicitors to understand a proposed scheme.
            But if I was then I'd try rewording it.
            10-04-2021, 02:19 AM
          • Tenants in common: Individual names and Limited company on one title
            by anilvek
            Hi all

            Basically, before I start, I have spoken to accountants and solicitors who think I am frankly absurd and my proposal is something that is unheard of following which I have decided to not to go with this route, given changing landscape of BTL I wanted to ascertain how absurd my fellow...
            08-04-2021, 12:22 PM
          Working...
          X