UK Mortgages for Foreign Nationals

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Foreign national mortgages are a complicated matter, so if you're considering one, you should seek professional assistance. That way, you'll have a better chance of succeeding and getting the best prices available.

Although many websites and forums claim to have answers to critical issues about mortgages for foreign nationals, many people will find it difficult to receive trustworthy guidance. Remember, incorrect advice can cost you both time and money.

 

What is the definition of a mortgage taken out by a foreign national?

It is possible to obtain a mortgage even if you are not a British citizen. A foreign national mortgage is a form of loan that is available to anyone who matches the following three requirements:

1. You are a non-UK resident or do not have permanent residence in the United Kingdom.

2. Born outside the EU but with permanent residency or indefinite leave to remain

3. If you're an EU resident, this may also apply to you in various respects.

 

Guidelines

When determining whether applicants are qualified for a mortgage, most foreign national mortgage lenders consider two major factors:

1. How much time do you have left on your visa to stay in the United Kingdom?

2. What is the nature of your visa? (Some lenders offer mortgages to those on a Spouse Visa but not, for example, a Student Visa)

3. When did you first arrive in the United Kingdom and how long have you been there?

Before they can issue you a foreign national mortgage, the majority of lenders will want you to have lived or worked in the UK for at least 12 months.

It will benefit if you have at least two years left on your visa when applying for a mortgage as a foreign national.

The best way to learn more about guidelines and how they may affect you is to contact us so that we can connect you with a professional who can help you with your specific situation.


Look at the infographic below that covers the reasons Why do experts suggest every investor knows about UK mortgages for foreign nationals. (Source: Chetu “ Mortgage Management Software)



Is it possible to secure a mortgage in the United Kingdom if I am a foreign national?

Yes! Foreign national mortgages are becoming increasingly available from a growing number of mortgage lenders, and we work with skilled brokers who arrange these products daily. Before you proceed with your application, speak with them to save time, money, and possible credit marks. Our broker-matching service is also completely free!

 

What is the procedure for obtaining a mortgage from a foreign country?

Open a bank account and keep it active, if you haven't already. Being employed in a permanent position in the United Kingdom can also help lenders see your application as more appealing.

If neither of these options appeals to you, some lenders will consider mortgages paid in foreign currency or from an overseas income. For more information, see our guide to getting a mortgage with an overseas income.

Don't be fooled by incorrect advice into believing you won't be able to secure a mortgage in the UK if you don't have a British passport.

We also deal with expert foreign national mortgage brokers who can provide tailored advice on these products - contact us today to talk with one of them on the phone.

 

What are the different types of visas, and how do they impact lending?

When it comes to foreign national mortgages, the sort of visa you have is crucial as it affects your position for many and it is linked to the lending requirements of determining how long you have been in the country.


The three primary sorts of visas and what they could entail for your mortgage prospects are as follows:


1. Family visas 

Family visas are for married couples who reside with their spouses, as well as blood relatives such as children, parents, and other relatives.

If you are a foreign national on these visas, you have the option of filing a joint application, which has several advantages and permits you to work.

 

2. Work visas (Tier 1 and 2)

If you apply for a mortgage on any visa, the longer your visa is valid, the more likely your application will be approved.

The majority of lenders will want foreign nationals to have at least 1-2 years remaining in the country since this provides them more confidence that they will be able to stay in the country long enough to repay the loan.


3. EU citizen

EU citizens are usually eligible for the same mortgages and lending alternatives as UK citizens, although this is dependent on whether or not you have a credit history in the UK that can be used in your application.

Reaching out to the right people or organization is the simplest method to ensure you're on the right road and receive assistance from people who know everything there is to know about applying for your visa. The brokers with whom we collaborate can provide you with expert advice.

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