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From the beginning excellent communication and feedback, follow up from the team of Peter Bartlett, Alex Fryday & Garry Skimins was prompt and helpful, concluding ...Read More

Mortgages For Non-UK Citizens

If you are moving to the UK to work, it stands to reason that you will need somewhere to live. While many people in this scenario are happy to rent accommodation, if you're planning to stay in Britain for a prolonged period of time, it can make more sense to buy a home. Actually doing this, however, isn't always straightforward.

In order to be accepted for a mortgage, lenders typically take a view of you from a number of different angles. They want to know your credit history - whether you're a reliable repayer of debt - that you live permanently in the UK, that you have a secure income and can afford the mortgage payments. This instantly poses problems for buyers who are moving to the UK from outside of the European Union.

However, there are a few easy ways to put yourself in the best possible position.

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What Our Customers Say

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Find out more

Establish a Credit History

You can do this by opening a current account in the UK and making regular deposits into it. Additionally, apply for a credit card, spend on it and repay the full amount each month and this will establish a record that you can reliably repay debt

You'll also need proof of address - which if you're looking to buy in the UK can be a bit of a problem. However, it may make sense to rent short term in order to make a mortgage application easier.

Visas

Lenders will want to know how long you have on your visa. This will depend on the type of visa you have and how long you're planning to stay in the country. It is typically slightly easier for those with a tier 2 visa to obtain mortgage finance, as they are able to demonstrate what their income will be through their employment contract. For those staying in the UK on a tier 1 visa, needed if you plan to run your own business in the UK as self-employed or an entrepreneur, it can be a bit trickier.

In the UK, law dictates that mortgage lenders need to have seen evidence that you are able to afford to repay a mortgage they give to you. For those who are employed, this is a straightforward matter of providing confirmation of employment and salary. For those who are self-employed, it can be more difficult. This tends to be because the self-employed don't pay themselves in a standard manner, and for tax purposes, it can make more sense to leave equity in the business, take irregular dividends and avoid taking a monthly salary.

The result is that mortgage lenders usually lend you less than you could borrow if you were earning the same as a full-time employee. In order to prove your income, lenders typically want to see a minimum of one year's business accounts signed off by a qualified accountant. Bear in mind this is the absolute minimum, and it's more likely they'll want to see two or three years of accounts.

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Spousal Visas

Applying for a mortgage when you are in a relationship usually means both of you make a joint application. This can make good sense, as if both of you are working then the amount you are eligible to borrow will rise in line with the double income.

However, if one of the couple is a foreign national living in the UK on a spousal visa, this can have an impact on the number of lenders that are willing to approve a mortgage application.

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Ancestral visas

If you have or had a grandparent who was a British citizen, the UK allows you to apply for an ancestral visa to enable you to live and work in the UK. As above, the length of time that you have been resident in the UK will affect your eligibility for a mortgage. You should aim to establish a good credit history before you make a mortgage application.

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Specialist Support

Securing a mortgage if you are not a UK resident or citizen is tricky but it's far from impossible. There is a range of lenders that are more than happy to lend to borrowers in this situation, but each has different requirements. It's therefore a good idea to use a mortgage broker who specialises in this type of mortgage finance.

We know what each lender is looking for and how they like to see your information and documentation presented to give you the best possible chance of acceptance. Because we have long-established relationships with these lenders, we are also usually able to help you secure a competitive mortgage rate in line with those offered to UK residents rather than you having to pay a premium.

Find Out Current Best Rates

Property Value
£
Mortgage Amount
£
Reason for Mortgage
Mortgage Type
Lender Initial Rate Type For Then APR* ERC* Fee
Monmouthshire BS 2 Year Discount £1999 Fee Purchase BMO0.99%Discount2 years 5.24%4.4%2 years £2149
Beverley BS 2 Year Discount £1895 Fee BBV1.28%Discount2 years 4.75%4.2%2 years £1895
Leeds BS 2 Year Tracker £999 Fee BLH1.32%TrackerOct-20205.69%4.8%31-Oct-2020 £999
Accord Intermediary 2 Year Discount £1495 Fee ACC1.34%DiscountFeb-20214.99%4.2% £1495
Skipton BS Intermediary Exclusive 2 Year Fixed £1995 Fee SBS1.38%FixedOct-20204.99%4.5%31-Oct-2020 £1995
Leeds BS 2 Year Fixed £1999 Fee BLH1.39%FixedDec-20205.69%4.9%31-Dec-2020 £1999
Progressive BS 2 Year Discount No Fee Purchase BPG1.39%Discount2 years 5%4.58%2 years £0
Skipton BS 2 Year Tracker £995 Fee SBS1.42%Tracker2 years 4.99%4.3% £995
Barclays Bank 2 Year Tracker £1999 Fee Purchase Wealth BWO1.44%Tracker2 years 4.24%3.8% £1999
TSB Intermediary 2 Year Fixed £995 Fee Purchase TSB1.44%FixedNov-20204.24%3.9%30-Nov-2020 £995
Mortgage product availability is subject to status and availability. Although great care is taken to ensure that product details are as accurate as possible no liability can be accepted for errors or omissions.
*APR = Annual Percentage Rate *ERC = Early Repayment Charge
*These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made.

Best Discounted Rates

LenderRateType
Monmouthshire BS 2 Year Discount £1999 Fee Purchase BMO0.99%
then 5.24
(variable)
DiscountRead More
Yorkshire Building Society Direct 2 Year Discount £1495 Fee YBS1.17%
then 4.99
(variable)
DiscountRead More
Beverley BS 2 Year Discount £1895 Fee BBV1.28%
then 4.75
(variable)
DiscountRead More

Best 5 Year Fixed Rates

LenderRateType
Yorkshire Building Society Direct 2 Year Fixed £1495 Fee YBS1.38%
then 4.99
(variable)
FixedRead More
Skipton BS Intermediary Exclusive 2 Year Fixed £1995 Fee SBS1.38%
then 4.99
(variable)
FixedRead More
HSBC Direct 2 Year Fixed £1499 Fee C/A Premier Standard HSB1.39%
then 4.19
(variable)
FixedRead More
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