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Foreign Nationals

Is it harder to get a mortgage if I am a foreign national without permanent rights to reside in the UK?

In short, yes, extra criteria applies, which can only make it more difficult. That said, it is very readily achievable and if you know the finer details of mortgage lenders’ criteria, often easier than you might think.

If you already have permenant rights to reside via the EU Settlement Scheme or hold Indefinite Leave to Remain (ILR) you won’t have any issues.

 

Foreign National FAQ'a

If you are a foreign national, without permanent rights to reside, we may be able to help, even with additional complications like:

  • If you have a deposit as little as 5%.
  • If you have only just moved to the UK.
  • If you only have a few months left on your VISA
  • Whatever your VISA type
  • If you are self employed
  • If you have had some credit blips

The difficulties arise in combining these requirements. For example, if you have been in the UK for over 3 years, have 2 years left on your VISA and need to borrow 95%, this is very much possible. However, if you are looking for 95%, have only been in the UK for 6 months and have had credit blips duing this time, it is unlikely a lender will be able to accomodated you at the moment.

Mortgage lender criteria exceptions for foreign nationals

We are able to seek lending criteria exceptions when there are additional strengths to the mortgage we are proposing. A lender may be willing to overlook its usual foreign national policy if some of the below bullet points apply.

  • You have been in the UK for more than 5 years and are eligible for ILR. (Even if you haven’t applied for it)
  • You are on a VISA, but the other applicant(s) income is sufficient to obtain the mortgage amount needed.
  • You have been in the UK longer than 2 years.
  • You earn over £75,000.
  • You have a large deposit.

Without considering exceptions properly, you could incorrectly be told you are not eligible for a mortgage.

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