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From Renting to owning: How tier 2 Visa holders bought in London with just 10% deposit
From Renting to owning: How tier 2 Visa holders bought in London with just 10% deposit
Project Overview
Client:
New to the UK
Income Type:
Standard Salary
Mortgage Amount:
550,000
Bank Used
Challenge
Our clients had recently moved to the UK on a 5-year Tier 2 ICT visa and were renting an apartment in London. As first-time buyers without a large deposit, they believed they needed to wait at least two years and save 25% before applying for a mortgage.
It’s a common misconception, and it was holding them back from getting on the property ladder.
Results
After speaking with Limitless, we explained that their strong income and visa status already met lender requirements. Not only could they buy right away, but they could also do so with just a 10% deposit, far less than they expected.
They successfully purchased a home in London, and to top it off, their monthly mortgage payments were significantly lower than what they had been paying in rent.
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Project Overview
Client:
New to the UK
Income Type:
Standard Salary
Mortgage Amount:
550,000