Foreign national mortgage
A foreign national mortgage is a complicated topic. It is important to get the right mortgage advice if you are looking for foreign national mortgage lenders. This will increase your chances of success and help you get the best rates possible when looking for mortgages for foreign nationals.
Many websites and forums claim they have all the answers to questions regarding a foreign national mortgage. However, it can be difficult for many to find reliable advice with reasonable and prompt handling of a foreign national mortgage.
Bad advice can lead to financial loss. Speaking with a mortgage broker like ourselves can save you time and money, and we will introduce you to a lender who provides a foreign national mortgage.
As mortgage brokers, we assist people in getting the most out of their foreign national mortgages. We allow anyone to enquire, and we help people match specialists with expert advice.
Constitute financial advice today to speak with specialist brokers.
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We have access to over 200 lenders in the UK to get you the best ratesWe are expert foreign national mortgage brokers
What is a foreign national mortgage in the UK?
It’s possible to obtain a mortgage even if you are not a citizen of the UK looking for UK mortgages. A foreign national living mortgage is an option for those who meet these three requirements.
- You are a non-UK resident or do not have permanent residence in the UK.
- Born outside the EU but have permanent residence or indefinite leave to stay
- If you are an EU resident, this may apply to you too.
Guidelines for foreign nationals living in the UK:
When deciding whether applicants are eligible for a mortgage, most foreign mortgage lenders consider two factors:
- What length of time you’ve been on your visa for the UK
- Which type of visa do you have
- How long have you been living in the UK?
Most lenders require that you have at least lived and worked in the UK for a minimum of 12 months before you can be offered a foreign mortgage.
A minimum of two years on your visa is required to apply for a mortgage. This will increase your chances of being approved.
Enquire us to learn more about guidelines and how they can affect you. We will then contact you with a specialist lender tailored to your circumstances and needs.
Can I get a mortgage in the UK as a foreign national?
Yes! Talking to one of our expert mortgage brokers before submitting your application can save you time and money and stop you from potentially damaging your credit score. Our broker-matching service comes at no cost!
How to obtain a foreign national mortgage
Open a UK bank account
If you have not already done so, open a UK bank account and make sure it is active. A permanent job in the UK can make your application more appealing to lenders.
Some lenders will accept mortgages in foreign currency or from overseas income for those who don’t have the funds. See our guide to getting a mortgage with overseas income to learn more.
Do not let poor advice fool you into believing you cannot get a mortgage in Britain without a British passport.
We also have specialist foreign national mortgage brokers that can provide bespoke advice. Enquire today to speak with one.
How Visa classes affect lending for UK Mortgages
Your visa type is important when it comes to foreign-national mortgages. It determines your status. This also links to the lending criteria that check how long you have lived in the country.
These are the main types of visas and what they can mean for your mortgage potential.
- Family Visa:
These visas are for married couples who live together. Child, parent etc.
If you are a foreign national with these visas, there is an option to submit a joint application. This has many benefits and allows you the opportunity to work. - Tier 1 and Tier 2 Work visas available:
You have a better chance of getting a mortgage on your visa than if you are not on the visa for as long as you have.
Most lenders will request that foreign nationals have at least 1-2 years remaining to qualify them for a mortgage. This gives them greater confidence that you can stay in the country for the full term. - EU citizen:
You are entitled to the same mortgages, lending options, and benefits as UK citizens, but it depends on whether you have a credit history in the UK that could count towards your application.
Reach out to us to ensure you are on the right path and receive support from people who understand how to best apply for your visa situation. Our brokers can provide you with the expert guidance that you require.
Mortgages to buy and let
Mortgage lenders generally assess foreign nationals in the same way as a standard mortgage. Long-term stays are encouraged before and after an application, giving them better credit history.
The process can be easier for people with UK permanent residence rights, full working permits, or who have lived in the UK for at least two years.
Lenders will still consider applicants who do not meet these requirements. However, our dedicated brokers don’t discriminate, so enquire today to constitute financial advice.
Non-UK residents can get buy-to-rent mortgages
Yes, it is possible. However, the process is more complicated than for foreigners living in the UK. Flexible lenders are available that offer non-resident buy-to-let mortgages to foreigners who have a 20% deposit. This includes first-time landlords and self-employed customers.
With this increased risk, you can expect lender identity, anti-money laundering, and funding source checks to become more stringent.
It might be harder to obtain a mortgage to buy to rent if your residence is not in the United States, but it’s possible with the right lender.
It can be hard to find them if you don’t know where you should look. But the good news is that our advisors have strong relationships with specialist mortgage providers and would be happy to introduce you.
Commercial mortgages for foreign nationals
You can obtain a UK commercial mortgage if you are a foreign national. Our international mortgage brokers arrange business mortgages on behalf of customers from abroad.
Commercial mortgages are different to residential. This is something you should keep in mind. For specialist advice, you can refer to our guide on commercial mortgages.
Lenders and rates for foreign national mortgages
It is best to look at averages rather than the actual rates when trying to decide if you will be able to get a good mortgage. Foreign nationals may find it difficult to get mortgages. While being a foreign national can make you riskier to lenders, other factors should be considered.
You may be affected by certain factors that could lead to your declines, such as adverse credit history or income source. Deposit size. Property types are just a few examples.
Talk to an expert about foreign national mortgages
You can ask questions about foreign national mortgages to speak with a specialist mortgage broker.
Contact us now and let our team of expert brokers will help you find the mortgage lender that best suits your needs. Our services will not affect your credit score, and there are no fees.