Chances on a mortgage as a self-employed foreigner less than 2 years in the UK

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Emma Power Mortgages replied

21 January 2016, 13:14
Originally posted by ujjain View Post

I've been renting for 21 months in London and I'd like to know if buying a house would be an option. As an IT contractor in London I'm in a fortunate financial situation, so putting up a 20% deposit wouldn't be a big problem. My credit report is very empty, since I've only had a Barclaycard for 11 months, but I've never missed a payment and always paid it back in time.

Any self-employed people of foreign descent who can tell me their story?

Hi I have successfully placed several people in your situation with a mortgage. It is worth mentioning though that your credit footprint and deposit size will factor quite heavily in this decision. It can be done but my best advice is to speak to the professionals. Upfront enquiries cost nothing from reputable specialist companies and you can be sure the advice you receive is specific to your circumstance and your case.
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SueEllen replied

17 January 2016, 08:56
Are you registered to vote in the UK? If you are allowed to be on the electoral roll e.g. are an EU citizen then get yourself on it asap.
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meridian replied

16 January 2016, 22:24
I second the Freelancer Financials comment, they seem more very helpful and willing to answer all questions without obligation.

I suspect it'll depend a bit on your citizenship (EU is more favourable), visa status if any, and contracting intentions.

The first thing I did when I landed back in the UK was to sign up with both Experian and Equifax, to ensure all addresses were correct and voting registration was recorded.
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northernladuk replied

16 January 2016, 21:45
It can't do any harm to give one of the contractor mortgage people a call as well. I've used freelancer Financials a couple of times and they are more than happy to discuss your situation even if it comes to nothing. At least it gives out an idea as all the contractor lenders have different criteria about length of contract, breaks and so on. You never know, it might be more straight forward than you think.
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ujjain started a topic Chances on a mortgage as a self-employed foreigner less than 2 years in the UK

16 January 2016, 21:30
Chances on a mortgage as a self-employed foreigner less than 2 years in the UK

I've been renting for 21 months in London and I'd like to know if buying a house would be an option. As an IT contractor in London I'm in a fortunate financial situation, so putting up a 20% deposit wouldn't be a big problem. My credit report is very empty, since I've only had a Barclaycard for 11 months, but I've never missed a payment and always paid it back in time.

Any self-employed people of foreign descent who can tell me their story?
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