Foreign Nationals

Essential Requirements:

Visa and Presence: You must hold a valid Visa and be physically present in the UK at the time of your mortgage application. From there, each lender will have their own criteria based on your unique situation, income, and affordability.

Guarding Your Credit Score

As a foreign national, maintaining a good credit score is crucial. A poor credit score can make obtaining a mortgage near enough impossible. Ensure you pay all your bills and financial agreements on time. For more guidance, refer to our Credit Issues page.

Loan to Value (LTV) Ratios

Loan to Value, or LTV, is the ratio (as a percentage) of what you borrow against how much you pay as a deposit when purchasing a property.

For Foreign Nationals: The standard is 75% LTV until you have two years of UK credit history. After two years, you can go up to 90% LTV. However, there are some niche lenders with more generous criteria for foreign nationals looking to acquire a mortgage before two years of residency.

Applicants who are living and working in the UK on a Tier 2 visa can get a mortgage up to 90% Loan to Value with NO minimum income requirements. There is also no minimum time remaining on the visa.

Applicants with an Ancestral or BNO visa will be subject to the same criteria as applicants with a Tier 2 visa, but they must have a minimum of 2 years remaining on their visa.

Most impressively, those with a Skilled Worker visa with over 2 years remaining on their visa may be able to borrow up to 95% Loan to Value, matching the borrowing capabilities of high street lenders for UK nationals!

How large a Mortgage can I get?

Lenders will access your Affordability when considering the maximum size of your mortgage. They need to ensure that borrowers are only approved for mortgages that they can afford to repay.

There are various accessing factors, but the affordability multiplier is normally around 4.5x your annual gross income. This may be higher for larger incomes.

High-Income Earners

If you earn over £75,000 per year, your path to a mortgage becomes much smoother, especially if you lack two years of UK credit history. You’ll have access to more mainstream lenders with lower interest rates.

Income Proof: Prepare to provide at least three months’ payslips to evidence your income.

Applying for a Joint Mortgage

If you’re applying for a joint mortgage with a UK national or someone with Indefinite Leave to Remain (ILR):

• You can combine incomes, potentially securing a higher mortgage amount.
• More mortgage lenders will consider your application. Some lenders prefer not to consider sole foreign national applicants.
• You can go up to 95% Loan to Value.

Gifted Deposits from Overseas

Some lenders may consider gifted deposits from overseas sources. Each lender has its own criteria that is subject to country, and currency restrictions.

You will need to provide documentation showing the source of the deposit. Generally, lenders only accept gifted deposits from immediate family (mum, dad, etc.). All gifted deposits will be subject to Anti-Money Laundering (AML) checks.