United kingdom is one of the great countries in the world if you have ever been to the Uk you would love to have a property over there or rather have a personal home there. the question is this are you a foreigner in the UK and do you wish to have the property of your own?
UK mortgage for non-UK residents
RAW Mortgages focuses on lending to non-UK resident individuals, trust and companies against buy-to-let property in the UK. Obtaining a mortgage on a property can be a lengthy process, but we’re here to make it simple.
How to get a mortgage in the UK?
RAW Capital Partners focus on buy-to-let lending and we pride ourselves on our flexible approach to lending, with no income, asset, age or employment requirements. Instead, each application is considered on a case-by-case basis. We can offer a term of up to 5 years for non-UK residents as well as an 11-month bridge for UK resident individuals or companies – see our Bridging Loans page for further information.
To initiate the borrowing process with RAW, simply fill out our application form – this includes all of the information needed to obtain a Decision in Principle from our Credit Committee, which will be provided within 24 hours.
UK mortgage requirements
As mentioned above, we don’t operate using a tick-box approach and consider each case on its merits and based on the information provided to us in our application forms. When applying for the loan we’ll review the financial and personal situation of the borrower, including income, outgoings, assets, employment etc.
Your request will be reviewed quickly and, if approved in principle and you want to proceed, we will only then request confirmation of personal details and other documentation so we don’t waste your time. Generally, this will include:
- Proof of identity (e.g. passport or national identity card which must include the legal name, date and place of birth, nationality, and unique identifier of the individual)
- Proof of address (e.g. utility bill or other proof of residential address which is less than 3 months old)
- Proof of employment (e.g. letter of employment or other proof of occupation which is less than 3 months old)
- Verification of financial position (e.g. proof of salary, savings, investments etc)
How much is a mortgage in the UK?
The average mortgage payment in the UK is £723, with an interest rate of 2.48%. This is based on the most recent study conducted by Santander in 2018. This study was based on first-time buyers and the monthly payments are broken down into the following regions: London £1,280.
UK Mortgage Requirements & Questions/Answers
READ: Uk Mortgage Rates & High House Prices Rents
How do mortgages work UK?
How do mortgages work? Once you get a mortgage, you pay back the amount you have borrowed, plus interest, in monthly instalments over a set period, usually around 25 years. Some mortgages in the UK have longer or shorter terms. The mortgage is secured against your property until you have paid it off in full.
What are the requirements to get a mortgage in UK?
- What you need to apply for a mortgage
- utility bills.
- proof of benefits received.
- P60 form from your employer.
- your last three months’ payslips.
- passport or driving licence (to prove your identity)
- bank statements of your current account for the last three to six months.
How much is a 100k mortgage per month UK?
Monthly payments on a £100,000 mortgage
UK Mortgage Requirements & Questions/Answers
SOURCE: CLICK