My boyfriend and i are looking to buy next year and have been told we arent able to get a morgage as i will have less then 1 year left on my visa, even though its an ansestral visa and ill be applying for my british passport in the future.
2007-11-26 02:38:33 · 6 answers · asked by pyxieg 1 in Business & Finance ➔ Renting & Real Estate
You are a higher risk of being thrown out of the country, defaulting on your mrtgage giving the banks a hard time of recovering their money.
2007-11-26 02:45:24 · answer #1 · answered by Marky 6 · 1⤊ 0⤋
Perhaps because it can take up to a year to get your Visa renewed ?
I suggest you apply for your British Citizenship as soon as possible .. that can also take a long time ...
2007-11-26 03:20:29 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
If you're tossed out of the country, you obviously aren't going to be making your mortgage repayments. Let's be honest, would you lend a lot of money to someone who in theory may not be around next year?
2007-11-26 02:48:22 · answer #3 · answered by champer 7 · 1⤊ 0⤋
Reason being if you are denied access to stay in the country you would default of course on your mortgage. Cant own something when you dont live in that country legally.
2007-11-26 02:41:05 · answer #4 · answered by Renee 4 · 1⤊ 0⤋
Yes you can have a mortgage if no longer than 11 months ..My answer is as silly has your question .Are you sure you don't really no why.Then get one when you have a right of stay .
2007-11-26 03:22:37 · answer #5 · answered by Anonymous · 0⤊ 1⤋
bcoz you can run away....ancestral visa does not guarantee you will get stay here in the future...they keep changing criteria and prices at the HO....
2007-11-28 00:00:23 · answer #6 · answered by Anonymous · 0⤊ 0⤋