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How do you build up your credit history to get a non-UK mortgage?
You should firstly get your credit report - which will outline your official UK credit history - by applying online to either Equifax, CallCredit or Experian. You'll then know how lenders look at you as a credit risk in the first instance.
You build up your credit history in the same way as if you were a UK citizen. Here are some tips to help you:
- Get on the UK electoral register (click to do this online).
- Get a credit card and use it responsibly, always paying off your credit before the end of the month and making any required payments.
- Stay at the same address - the longer you stay in any one place, the better your credit standing becomes.
- Have at least one utility bill in your name (and pay any bills related to it on time!) This also increases your standing as a responsible credit-worthy citizen.
- Don't apply for too much credit at once; it's best if possible to leave 6 months between applications.
- If you do get refused credit, don't apply for any more for at least 6 months so your score can recover.
This is a large topic all on its own; please read Improve your Credit Rating for a convenient summary and for links to additional information.
Please also click on 3 Things You can't have on your Bank Statement to find out what behaviour you must avoid to ensure your lender doesn't reject your application immediately.
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Can you get a mortgage if you're a non-UK citizen and self-employed?
Yes you can although you should expect any prospective lender to require as much proof as possible of your income and it's something you should tell your independent mortgage broker at the beginning. Please read Getting a Mortgage when Self-Employed to find out more about this topic.
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Can you apply for a Help to Buy Equity Loan as a non-UK citizen?
Yes you can; the rules governing the Help to Buy Equity Loan scheme make it open to all UK residents; you should tell your independent mortgage broker that you are intending to buy a house through the scheme so they can do a preliminary check on your eligibility then find the right Help to Buy mortgage for your needs to apply for.
Click on Help to Buy Equity Loan scheme to find out about how the scheme works in general and to get detailed instructions about how to apply for it.
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How can you give yourself the best chance of success in your mortgage application?
You should apply for your mortgage using an independent mortgage broker; they can 'do the hard work' and look through more than 20,000 mortgages from more than 90 lenders in order to find you the product which best suits your needs and they can best advise you about how to be successful in your application as well.
Non-UK citizen? Looking for a mortgage to buy a home?
Our independent mortgage brokers can give you the best chance of success in getting a mortgage offer.
They can find the right product for you from more than 90 lenders and more than 20,000 mortgages and your initial consultation is free.
* * Access to whole of the market – Available Outside of Work Hours – No need for face-to-face meeting with mortgage advisor -
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