Tier 2 Visa First-Time Buyer Success

The Clients & Goal

• Clients: One applicant aged 31 years old from Taiwan
• Goal: First time buyer looking to buy residential home
• Purchase Price: Property up to £225,000
• Deposit: 10% from personal savings

The Challenge

• Visa status: Tier 2 working visa
• Complexity: Small deposit & single income

The Solution

• Broker Expertise: Mark identified a range of High Street lenders that would accept a 10% deposit with a working visa to obtain a very competitive rate.
• Affordability: Passed comfortably by looking at lenders which offer greater multiplier for first time buyers which allowed client to look for higher priced properties.
• Mortgage Detail: Approved 90% loan-to-Value(LTV) mortgage on a property purchased for £240,000

The Outcome

• Term: 30 years
• Timeline: Approved Decision in Principle in 2 days; Mortgage offer produced 10 days after the full application was submitted.
• Client Comment: I am happy with the offer, thank you and have a lovely day.