Speak John Charcol mortgage advisers. UK based and maybe able to help you..
Speak John Charcol mortgage advisers. UK based and maybe able to help you..
Let me try to reach out to them next week. Thanks a lot!
Do people find buying in UK still beneficial after all the tax and stamp duty changes?
I ran some numbers on a GBP 300k property in UK, upfront stamp duty outgoing alone put me off thinking about this purchase.
Maybe I am looking at it the wrong way?
Hi
New here. Anyone know where to get a US mortgage loan? I'm a non US citizen (HK). I don't have US credit score either. Looking to buy a property in California (UCLA area) for my son while attending Uni. Looking to borrower $400k USD which would be 50% of the purchase price. Went to HSBC and it was a no go. Thanks and Cheers!
Maybe try a bank with US branches like Citibank? They say they do overseas mortgages but not much info on their website. Just says "contact your 'relationship manager.'" Your son sounds very lucky to me...gotta beat the dorms.
That was one of my first stops. No go as well.
It appears a 50% down payment has little value when you don’t have US credit history. Thank you for your kind comment regarding my son. He works hard. Proud of him! Cheers.
Ah, yes, "credit history" is everything in the US but seems silly if they have branches in both US and HK (can get your assets in HK if you don't pay?).
But since you have a sizable downpayment, I guess the other option would be buy for cash (what I did in Japan because no way would a Japanese bank ever give ME a mortgage!). I am sure your son would still be happy with the outcome. My daughter went to the UK for Uni and I admit to looking at property nearby on the Internet and fantasizing about having a little place with maybe a spare room where I could pop in for a visit...
@RonSully - can I suggest that you look at banks in the US that cater to the Chinese population?
For example Cathay Bank offers some sort of "foreign national/investor" mortgage:
https://www.cathaybank.com/personal/loans/mortgage-loanU.S. customers in Hong Kong can dial toll-free 3710-1400 to contact U.S. Customer Service directly.
Have your son go to the nearest China town and enquire with the banks (esp if they're HK HQed banks) if they have any non-citizen loan schemes for HK residents? Or have him contact one of their loan officers?
https://www.cathaybank.com/personal/...an-originators
Thank you! I should have joined/posted a few months back. Very kind of everyone. I will try your suggestion. Cautiously optimistic.
Found this while looking around:
May be outdated.
https://www.cathaybank.com/CathayBan...ng_no-crop.pdf
Might also want to call HSBC US directly. They offer "no doc" loans for overseas investors with a US premier account.
https://www.us.hsbc.com/home-loans/p...eluxe-MortgageSolutions for International Borrowers in the U.S.
Options for international borrowers who have qualifying documentation.
You do not need U.S. credit history to apply for an HSBC mortgage. We will order your international credit report for your application, and help you throughout the entire process.
To apply for a Premier Deluxe Mortgage or learn more, call us at: 866.503.4722 or Visit a branch