Location: Chingford

Clients: Married couple age 32 & 30 (both foreign nationals living in UK on a Highly Skilled Immigrant Visa)

Requirement: First time buyer mortgage for £300,000

Having migrated to the UK 2 years ago on a Highly skilled Immigrant Visa both of us are employed as Accountants with earning of £33,000 & £32,000 respectively. We currently have a further 2 years left on our visas and are looking to purchase a property as our main residence. We have saving of £15,000 approximately towards any costs and are looking for a 100% mortgage.

Solution: As both of you have 2 years left on your visas and your joint income multiples (5 x) equated to more than £300,000 it was possible to arrange a 100% mortgage.

Other costs involved on the 2 year fixed rate product were £450 for valuation, £9,000 stamp duty, and £999 arrangement fee. Solicitors fee were approximately £1,500.

Benefit: Even though the clients were foreign nationals they were able to obtain a mortgage up to 5 x their income multiples as both clients fell in to the category of being professions under the mortgage lenders lending policy.