Vancouver Home for a UK Family on Permanent Residency
CAD 980,000 · 25 years · 5.25% fixed 5 yrs. A UK family had immigrated to Vancouver on permanent residency visas.
The Client
UK Expats - Primary Residence
The Challenge
A UK family had immigrated to Vancouver on permanent residency visas. Both parents were employed in their professions - she as an architect, he as an engineer. They had been renting for eighteen months and needed a Canadian mortgage, having only limited Canadian credit history.
Our Solution
Doulton placed the mortgage with a Canadian lender experienced in new permanent residents. Eighteen months of Canadian employment was accepted. The family's UK financial history was referenced. Canadian mortgage rules (stress test at qualifying rate) were navigated to ensure the application met regulatory requirements.
The Outcome
Home purchased in East Vancouver. Canadian credit history now established. Family permanently settled with long-term ownership in place. Key highlights: Permanent residency status accepted; 18-month Canadian employment history sufficient; Canadian stress test requirement navigated successfully.