Mortgage options for foreign nationals
If you wish to buy a UK property as a non-citizen, or a foreign national, it is vital to work with a broker to assess the suitable foreign national mortgage options.
Many people believe that they are ineligible for a mortgage because they aren't British citizens, which is simply untrue! There are plenty of mortgages for foreign nationals buying in the UK, although not always through mainstream banks.
The Revolution Brokers team has collated this brief guide to explain how foreign national mortgages work and the eligibility criteria.
For help buying a property in the UK, whatever your residency status, and understanding the foreign national mortgage guidelines, give us a call on 0330 304 3040, or email at [email protected].
How Do UK Mortgages for Foreign Nationals Work?
Foreign national mortgages are available for applicants who:
- Live in the UK but aren't a permanent resident.
- Are not a British national but have the leave to remain indefinitely.
Lenders offering mortgage loans for foreign nationals will need to consider what sort of visa you have, how long you have lived in the UK, and how long you have remaining on your visa approval.
Most mortgage providers will consider applicants looking for UK mortgages for foreign nationals who have lived and worked in the UK for at least a year and have at least two years left to run on their visa - although a broker can usually negotiate these points. In essence, the mortgage rules for foreign nationals are no different than for anybody else.
However, the lender will need to ensure that they are balancing out any risks and have confidence that they are offering foreign national mortgage loans with all the due diligence checks carried out.
