Glasgow: Non-UK Resident mortgage

A question about : Glasgow: Non-UK Resident mortgage

Hi there,

I've been living in Glasgow for the past 9 months on a 5-year ancestry visa. I'm from Singapore, but I plan to stay here for the long term and would like to get a mortgage for a small, one bedroom apartment under Ј45,000. I'm permanently employed with a good salary and have no existing loans and have never had debt. My visa is also renewable after 5 years.

I've spoken to Clydesdale Bank (my current bank) and Barclays so far, and it seems that most banks are unwilling to do a mortgage for a non-resident - Barclays offered to do it if I could put a deposit of Ј50,000, which I definitely don't have. I tried calling the IFA Centre today and was rudely turned down because they are too busy to take on new customers (their own words).

I'm really at wit's end, and am afraid to just pick any random mortgage broker, as well, I've come across a good number of dodgy landlords in my short time here.

Any information at all even in terms of legislation and law would be appreciated.

Thank you!!!

Best answers:

• you might be better posting on the mortgages board but I am confused why you would be asked for a Ј50k deposit for a Ј45k property... surely you then would not need a mortgage as you would be buying for cash!
  how much of a deposit do you have?
• As you are not domiciled in the UK, I would imagine you have no credit file or be on the Electoral Register - so without this basic requirement you are falling at the first hurdle and irrespective of which firm checks you for a mortgage.
  You can either rent, purchase by proxy (someone else effectively trusting you to pay them) or try a credit union, who may be interested as it is under Ј50k.
• For anyone who searches this thread somehow, I managed to get a mortgage with a 20% deposit, though this was only possible through a mortgage broker.