Foreign student buying a house in the UK?

Question

I would like to buy a house in England. I have no job. My dad says he can pay the costs. how hard is it to get a mortage?

Answer 1

To put it bluntly, if you're a student you won't be getting a mortgage.  You don't have any income, so how are you going to pay a mortgage back?

Also, the fact that you're foreign will count against you because you won't have a credit history in the UK.  Normally, a lender will want to check back over the last three years, although this is not a set rule so if you had good credit for say, two and a half years, then that would do.

Answer 2

I'd imagine it would be near impossible to get a mortgage if you're a student with no job. If you're looking for an actual house in London you're looking at at least £500,000.

Answer 3

it's getting very hard to get a mortgage now, with all this credit crunch business that is going on

Answer 4

Getting a mortgage at the moment is hellishly difficult.

My parents have just had a hard time buying a house for my sister, even though their credit history is pretty much spotless and the mortgage on our house was fully paid off years ago.

Your best bet would be to find a good place to rent.

Answer 5

I am afraid it's not possible for you to buy a house in the UK, unless you pay the full amount without applying for a mortgage.

To qualify for a mortgage, you must :

1. Have a permanent residency in the UK such as a British national, or a European national.

2.  Have been working full time in the UK for the passed 3 years.

3. Have a clean credit record and not owing a large amount of debts at the moment of applying.

Answer 6

The UK is England, Scotland, Wales & Northern Ireland, altogether

You seem to want to buy a house in England?

Are you one of these people who only calls England, the UK?

It's getting a lot harder in England,

Answer 7

very expensive. mortgages are getting harder to get by the day and prices are still way over inflated. plus if you are not uk resident you will have a hard time getting any finance.

Answer 8

It depends on where you want to buy & how much you're willing to pay - in London, to get anything half decent you need a minimum of £250,000 & for that you wouldn't get much