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Foreign National Mortgages

If you aren’t a UK citizen, i.e. you don’t have a UK passport or the right to one, you might assume that you’re not eligible for a UK mortgage. However, non-UK citizens can obtain UK mortgages.

Foreign national mortgages are for people born overseas with permanent residency, those with indefinite leave to remain or those holding appropriate visas.

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Simmonds Mortgage Services, mortgages for foreign nationals in the UK

Obtaining a foreign national mortgage can be more difficult than a standard UK mortgage, so getting the expert advice of a specialist mortgage broker enables you to make mortgage applications to specialist lenders if you’re looking to get a mortgage in the UK and become UK resident.

What are foreign national mortgages?

A foreign national mortgage is similar to a regular mortgage in the UK except that the lending criteria are usually stricter. These types of mortgages are only for non uk citizen borrowers.

UK citizens who are also UK residents can obtain mortgages from high street lenders that often won’t lend to foreign nationals because they deem them to be too risky. Private banks could also be an option for a foreign national to obtain property finance if other lenders are unwilling to lend.

How do foreign national mortgages work?

Foreign national mortgages work the same way as a UK standard mortgage as long as you can meet the mortgage lender’s criteria which can include a larger deposit as well as providing paperwork about your residency or visa status.

Many high street lenders can offer mortgages to foreign nationals, especially those who earn more than £75,000 – £100,000 or those who provide at least a 25% deposit. Interest rates offered should be similar to normal mortgages.

Foreign national mortgages

Foreign national mortgage eligibility

If you want to buy UK property and you have permanent residency, the foreign national mortgage application should be fairly straightforward. You might want to ask a mortgage advisor for help to find mortgages that suit your circumstances. They can also help with completing the mortgage application to avoid any issues with processing your paperwork.

What types of visas are accepted when applying for a mortgage?

Overseas borrowers living in the UK on a visa may apply for a foreign national mortgage from certain lenders if they have a Tier 1 (entrepreneur) or Tier 2 (skilled worker) visa, a family visa or a spouse visa. It can be challenging to get a mortgage on a student visa as mortgage lenders will often deem students to be too high a risk of default.

You may also be able to obtain a mortgage if you are an EU citizen. Some rules have become stricter since Brexit, so talk to a mortgage advisor who can help you understand the regulations that now apply to EU citizens.

If you are in the UK on a UK work permit, getting an offer from a mortgage lender is possible if you meet their criteria.

Frequently asked questions about foreign national mortgages

Yes, you can buy a house in the UK if are a foreign national living abroad. Even if you have not lived in the UK, you can buy property as long as your annual income is sufficient, you have a good credit history and a significant deposit (at least 25%) to put down.

Yes, you will need a UK bank account, three months' payslips from a permanent job or bank account evidence of your income as a self-employed individual.

Yes, you can get a mortgage as a foreign national if you don't have either permanent residency or indefinite leave to remain. You will need to have a tier 1 or tier 2 (skilled worker) visa, a traceable credit history and a good credit score.

You do not have to own a British passport to get a buy-to-let mortgage. Most lenders who offer buy-to-let mortgages lend to people with overseas income.

If you plan to remain living overseas and use foreign income to make your repayments, you may find fewer UK lenders will offer products on this basis. The country, currency and company you work for can influence mortgage approvals as well as the interest rate and loan to value.

No, simply owning a property will not give you residency rights. If you wish to live and work in the UK permanently, you will need to follow the standard visa process and meet the criteria for applying for permanent resident status.

We can find the right mortgage for you. Get in touch with us

Simmonds Mortgage Services has experienced mortgage brokers who can provide tailored advice to help foreign nationals access a range of products for non UK citizens. Call us on 01184 639037 or book a no-obligation discussion about your mortgage options.

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