Non-UK National Mortgage FAQ

There are a few lenders which require you to be a high earner. For example, there are more options for people earning more than £75,000. Likewise, if you have more than 25% deposit, some lenders have no minimum time in the UK at all.

Since Brexit mortgage lenders have adjusted their policies. As long as you have settled or pre settled status, this is treated as permanent residency by many mortgage lenders. You may still need to have been resident in the UK for an amount of time such as 2 or 3 years.

The good news is that lenders will treat an individual with indefinite leave to remain the same as a UK passport holder, so the mortgage requirements are simply those faced by any applicant such as length of time in the UK, income, credit, property etc.

As is often the answer, ‘It depends’. The main consideration is often simply how long you have been living in the UK. Some lenders have a minimum amount of time in the UK, others have no minimum but instead require you to pass a sympathetic credit score. We therefore recommend that anyone that’s moving to the UK tries to obtain a credit builder credit card and/or overdraft as soon as possible if they’re intending on getting a mortgage.  Some lenders make concessions to their normal policy if your deposit is over 25% of the purchase price or if you earn over £75,000.

It’s not actually as important as you might think. Lenders are typically more interested in how long you have been here as opposed to how long you have left on the visa. That said, there are a few that require over 2 years left on your visa. If you have less than two years, don’t worry, we can possibly still help.

Yes!

Yes!

Your borrowing potential is not impacted by your residency. If a lender is happy to lend based on your residency. The amount you can borrow is related entirely to your income.

Yes. Whilst residency and poor credit history will limit the market that’s available. It is still perfectly possible to obtain a mortgage.

Complex income, by its very nature, can be complicated! Lenders are most interested in how reliable the income is, chances are, if you have had the income for a few years and it’s likely to remain. Then you’ll be able to use this income.

Yes. There’s a few considerations if you’re on a permit. Too many to list here, you should probably give us a call.

Yes. There are loads of products which are designed specifically for expats living abroad.

Yes, it’s still possible to buy a property in the UK.