Hong Konger BNO VISA Mortgage
Helping Hong Kongers Achieve Their Homeownership Dreams
Are you looking for a mortgage broker who truly understands your needs as a Hong Konger or British National Overseas (BNO) visa holder?
At Possible Mortgages, our brokers are originally from Hong Kong and specialize in assisting Cantonese-speaking clients with finding the perfect mortgage solutions in the UK.
We are independent whole-of-market mortgage brokers with access to 100s of lenders and 1000s of products.
Mortgage Brokers For Hong Kongers
As a British National Overseas (BNO) visa holder from Hong Kong, you may face unique challenges when applying for a mortgage in the UK. At Possible Mortgages, we specialize in helping clients like you navigate these complexities.
Why Choose Us for Your Mortgage?
In-Depth Knowledge: We understand the specific requirements for BNO visa holders, including documentation and income verification.
Tailored Advice: Our brokers assess your situation to find lenders that cater to your needs.
Specialist Lender Access: We work with lenders who are familiar with the BNO visa scheme and offer competitive mortgage rates.
Experience You Can Trust: Our team, originally from Hong Kong, knows the cultural and financial nuances that matter most to you. We love to help you in your journey.
Why Use A Mortgage Broker?
6 Benefits of Using a Mortgage Broker
Clear Communication
Speak directly in Cantonese with our brokers to avoid misunderstandings and ensure every detail is covered.
Tailored Advice
Get personalized recommendations based on your specific financial circumstances and goals.
Cultural Understanding
We’re originally from Hong Kong and deeply understand the unique challenges and preferences of our clients.
Access to Specialist Lenders
We have relationships with lenders who are familiar with the needs of Cantonese-speaking and Hong Kong clients.
Expert Knowledge of BNO Visa Requirements
Our team is well-versed in the nuances of securing a mortgage as a BNO visa holder.
End-to-End Support
From your initial consultation to securing your mortgage, we’ll guide you every step of the way.
Document Checklist for a BNO Visa Mortgage
When applying for a mortgage in the UK, you’ll need to provide a variety of documents to support your application. Below is a checklist to help you prepare:
Essential Documents
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Proof of Identity: Passport or other official identification.
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Proof of Income: Recent payslips, tax returns, or employment contracts.
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Bank Statements: At least three months of statements showing your income and expenses.
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Proof of Address: Utility bills, council tax statements, or bank letters.
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Immigration Status: Go to View and Prove Your Immigration Status. Select "To prove for anything else," generate a share code, download it as a PDF, and send it to your broker.
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Deposit Evidence: Proof of savings or a gift letter if the deposit is from family.
Additional Documents
Overseas Documents: Lenders may ask for financial documents from Hong Kong, such as tax statements or credit reports.
Translation of Documents: If any documents are in Chinese, you may need to hire a professional translator to provide certified English translations.
Having these documents ready will speed up the mortgage approval process. Need help with gathering the right paperwork? Contact us today to speak with one of our brokers.
Mortgage Calculators
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Is there a fee for your service?Typically we charge a fee of £500 for arranging a mortgage, however the actual fee will depend on your circumstances and if more work is required then we could charge more than this but we will make you aware at the start of the process.
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What is the difference between paid and free brokers?You are about to make your largest purchase in your life. You want the best people on your team. We are the one for you. We are a customer-focused mortgage broker and will deliver the highest level of professionalism and service to your home buying journey. A free mortgage broker gets paid by the bank only and their advice might be biased towards banks that pay them a higher fee. Also, free mortgage broker often does not provide the same level of service and care to their customers as they need to write tons of mortgages to be profitable, which means they do not treat customer with the attention to detail and care you deserved.
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Is your mortgage advice impartial?This is what makes us different from other free online mortgage brokers. We never recommend a product based on how much the lender is compensating us. Instead, we provide professional and impartial mortgage advice to ensure you are treated fairly.
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Should I go with my bank directly rather than using a mortgage broker?Going directly with a bank means you will miss out on other cheaper lenders on the market. Using a mortgage broker often saves you money, and we will also help you relieve the stress of buying a home as we will handle all the research and paperwork for you.
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Are your mortgage brokers qualified and regulated?Our mortgage brokers are CeMAP qualified, and we are regulated under the Financial Conduct Authority (FCA). FCA number 1023518.
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What other services do you provide?We are a one-stop-shop for your homebuying journey. We provide protection (insurance) advise, and we also help you with conveyancing and survey for your home.
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Is your service available online or in person?We offer flexible consultation online or over the phone so you don't have to travel to our office.
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What is a first-time buyer mortgage?A first-time buyer mortgage is a home loan designed for individuals purchasing their first property, often featuring benefits like lower deposits and access to government schemes.
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How much deposit do I need as a first-time buyer?Typically, first-time buyers need a deposit of at least 5% of the property's value. However, a larger deposit can secure better mortgage rates.
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What government schemes are available for first-time buyers?Schemes like Help to Buy, Shared Ownership, and Lifetime ISAs assist first-time buyers in purchasing a home. Learn more in our Knowledge Hub.
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How much can I borrow for my first mortgage?Lenders typically offer 4.5 to 5 times your annual income. However you might able to borrow much more as a first-time buyer. Use our Affordability Calculator to estimate your borrowing potential.
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What is stamp duty, and do first-time buyers need to pay it?Stamp duty is a tax on property purchases. In some regions, first-time buyers are exempt up to a certain property value. Check current thresholds in our Knowledge Hub.
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How does my credit score affect my mortgage application?A higher credit score can improve your chances of mortgage approval and access to better rates. Learn how to boost your score in our Knowledge Hub.
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Should I choose a fixed or variable interest rate mortgage?Fixed rates offer consistent payments, while variable rates can fluctuate. Consider your financial stability and risk tolerance. Contact us for personalized advice.
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What additional costs should I budget for when buying a home?Beyond the deposit, consider expenses like legal fees, surveys, moving costs, and home insurance. Our Knowledge Hub provides a comprehensive list.
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How long does the mortgage application process take?The process typically takes 4 to 8 weeks, but this can vary. Start early to accommodate any delays.
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Can I get a mortgage with a low income?Yes, though your borrowing amount may be limited. Government schemes and lenders with flexible criteria can assist. Explore options in our Knowledge Hub.
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What is an Agreement in Principle (AIP)?An AIP is a lender's indication of how much they'd be willing to lend, based on your financial situation. It's useful when house hunting.
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Do I need a mortgage broker?While not mandatory, a broker can provide access to a wider range of deals and offer expert advice tailored to your needs. Contact us to connect with our experienced brokers.
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What is the difference between freehold and leasehold properties?Freehold means you own the property and the land it's on; leasehold means you own the property for a set number of years but not the land. Learn more in our Knowledge Hub.
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Can I use a gifted deposit for my mortgage?Yes, many lenders accept gifted deposits, typically from family members. Proper documentation will be required.
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What is a mortgage in principle, and how does it differ from a formal offer?A mortgage in principle is an initial estimate of what you can borrow; a formal offer is a binding agreement from the lender after full assessment.
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How does being self-employed affect my mortgage application?Self-employed applicants may need to provide additional proof of income, such as tax returns and business accounts. Our Knowledge Hub offers detailed guidance.
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What is Loan-to-Value (LTV) ratio?LTV is the percentage of the property's value that you're borrowing. A lower LTV can lead to better mortgage rates. Calculate your LTV with our Mortgage Calculator.
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Can I make overpayments on my mortgage?Many mortgages allow overpayments, which can reduce the loan term and interest paid. Check for any early repayment charges.
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What happens if my mortgage application is declined?If declined, assess the reasons, improve your financial situation, and consider seeking advice from a mortgage broker. Contact us for assistance.
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How do I choose the right mortgage term?Shorter terms mean higher monthly payments but less interest over time; longer terms have lower payments but more interest. Use our Mortgage Calculator to compare options.