with super high interest
2yr fixed is 7.69%
3yr fixed is 7.79%

they also wanted 15% deposit.
that's all because we have not been in the UK for a year yet.

is anyone in similar situation?

RATE太高了，没意义借~~
请问是哪家LENDER？
你都试过哪些LENDER啦？~~

你都赶上高利贷了! 就算LOAN, 也没那么高啊, 还要15% ..

LZ, 你还是在等等吧

如你所说，只有一家愿意借你们，是因为你们在英国时间太短，牵涉身份问题。这个情况很正常。
但那RATE确实不低，你真的要急买吗

should we assume that you are buying a property (house/flat), and that you are borrowing on a 25-year period? should we assume that your salary is high enough so that the borrowed amount is no more than 3.75 times your salary?

太离谱了，不要借！！

thanks for your advice! guess we will wait for another few months.

We are trying to borrow around 3.5 times our salaries together. in fact it turned out that the lender wants us
to do a self-certification application (which means the lender doesn't check our salary details) and have to find 15% deposit, which we don't have...

We talked to a mortgage advisor and he tried several lenders for us. So I don't know which lender comes up with such a hefty rate :|

we might try going to some bank/building society directly to see if we get the same response though. any suggestions? I heard Nationwide is pretty good?

Self-certification? Of course the rate is high, they need to cover against none payment.

You need at least two years' of employment in the uk to be sure of a normal mortgage.

个人感觉这个 真的是太高了，我不知道这个朋友购买房子的目的是什么， 我觉得就是自己居住或者一种投资，这样的利率，很难说以后的投资会很好的，房价就是在升高你也要考虑你的花费，个人认为不合算，而且怎么只能贷款3。5times。这个好像太低了吧，对这样的利率来说，我和我先生的公寓 是100%的贷款也才5.6%，而且也是前5年，关键是我先生年纪不大，不能得到更好的选择，我们最后选择的是northern rock,对了楼上的朋友can-tab-ox-on,我们昨天受到消息了，估计我们的房子很快就可以签订合同了，我们周末去了经纪公司，后来听说销售房子的人因为不满意他所在的经济公司的服务，所以直接找到我们聘请的那家经纪公司的贷款人联系，说希望赶快销售房子，所以你也不要担心，好好加油。

ya, the rate is way too high. We just want to get a house so we can stop paying rent but in this case renting is a more sensible thing to do. we will see what happens after we have been in the country for a year and I will report back to the forum

Ha, we went to HSBC and see what they have to say. they are willing to lend us money up to 100% for 5.09% for the first 2 years, or 5.04% if we put 10% deposit down. They are willing to lend more than what we asked for. happy
will start looking in Bishops Stortford area

恭喜！

thanks!
should have tried HSBC earlier, sigh!

恭喜楼主。 可这个应该不是fixed rate mortgage, 而是track on variable rate的，对吧？ l因偶前天刚跟hsbc了解过，他们说目前的fixed rate mortgage只有3年的，没有2年。

it's something called lowest rate. I am not 100% clear. I did hear him say something like the disadvantage of this option is that it varies with the interest rate. There were 4 options, this one, 3 year fixed, 5 year fixed, and tracker. he said we came at the right time as they just introduced this lowest rate thing. Since it's just an agreement in principle we didn't really give much thought to it, but now you get me thinking!

actually i am not 100% if they would lend us money in the end as they didn't check anything from us yet. we did tell them that we have not been in the UK for a year yet but the HSBC guy was like, oh no problem. He seems to want us to buy a property asap too.

恭喜楼主可以买自己的房子了！ 我觉得有可能还是fix的好一些，这样最近3年的支出可以有个预算。 不过7点几那个太离谱了，千万别借。我有个朋友因为条件不够，最后借的高利息，也才5.6%

I agree. I would not get a mortgage with interest rate higher than 5.5%. The reason why I like the 2 year lowest interest option is that I am getting my PhD soon so I will switch jobs and hopefully make more money then. The fix rate option does not allow me to overpay more than 20% per month. So the 2 year term sounds like a better option. It still doesn't let me pay for than 20% per month but after 2 years I can dump a lump sum in...

哈，原来这样，那你的选择有道理，fixed是要求2-3年之内不能换lender德，换了要有罚款的，你问问这个不fixed有啥要求。good luck!

Thanks for your advice! We will have another appointment with HSBC soon and I will make sure I understand the options better this time. And will post it here for your advice!

really excited after the trip to HSBC Saturday - haven't been working on my phd thesis at all since - hehheh

哈哈，可以理解，我去年买房子的时候，天天上班看，没心思上班了都。 能在这里安家置业多不容易啊，大家互相支持。 BTW,你可以试试halifax,我有个朋友和你差不多的情况，拿到了4.13%的rate。总之，多试！！！

Halifax now require non-eu applicants must be PR holders. also at the moment Halifax's mortgage offers are not that competitive for some reason.

jobaba, if you would like to have good package with early repayment, try Nationwide, they allow you to overpay £500 per month, possibly a bit better than HSBC but again it really depends on how exactly money you need to borrow.

luckily my husband has a EU passport...but even so our previous mortgage advisor was not able to give us a reasonable deal!

we are going to try nationwide and even thinking about moving our account over (I got this overseas employee account from NatWest before we moved to the UK but I hate NatWest!) . We were going to do that last Saturday but then HSBC said they would make us their premier customer if we borrow from them. We also want to ask Lloyds since my husband a bank account with them... will try Halifax too, 毛毛熊. 4.13% is indeed quite nice! arrggghhh...will be real busy from now on, hope I can still get my thesis done in time

你可以再试试bank of scotland, 我拿的2年fix, 4.73%，我也是WP不是PR. 当时工作才一年多。

你可以再试试bank of scotland, 我拿的2年fix, 4.73%，我也是WP不是PR. 当时工作才一年多。


this offer is not available from BANK OF SCOTLAND ( HALIFAX). I think , the offer from this bank is not competitive any more.

这个offer并不是最好的，但是他对借款人要求比较宽松，不需要PR, does it.




this offer is not available from BANK OF SCOTLAND ( HALIFAX). I think , the offer from this bank is not competitive any more.
[/quote]

yes, will try it anyway. one hour of our time may save us lots of money!

请问哪家LENDER可以贷款给学生啊？已经来英国8年啦，交的房租都快够买一半的房子啦，郁闷ING~~

i don't know, try HSBC? or you can get an broker to get self certified mortgage, higher interest rate though.

our problem was we were in the UK for too short of a time. now that we have been here for a year a lot more banks give us mortgage...

oh we did try halixfax, have to have 2.5 years left on the visa and requires 10% deposit, the interest rate is similar to HSBC...