Foreign National & Visa Mortgages
Can I buy a property whilst on a visa?
Many UK mortgage lenders do not accept applicants without a permanent right to reside, but that doesn’t mean you can’t get a competitive mortgage deal.
You don’t need a large deposit, or several years remaining on your visa, or to have resided in the UK for several years. The majority of visa types are also acceptable.
We have access to a large range of lenders that can accept most circumstances, and the requirements for each individual depend on a huge range of other factors relating to your employment, income, the property being purchased, your source of deposit and many others.
But the broad range of technicalities separating those lenders that might be suitable and those that aren’t mean you will benefit from using a mortgage advisor that specialises in this field, so don’t try to advise yourself without speaking to us.
If you are interested in Buy-to-let mortgages for foreign nationals please refer to this page.
Our visa mortgage advice service
As an independent advisor, we find lenders who can accept your circumstances, including your visa and any other nuances that affect lenders' suitability. We recommend the best overall cost product accessible that suits your needs and arrange that mortgage for you.
We handle all of the mortgage application forms, and we underwrite the application before sending it to the lender; ensuring that the application should meet the lender's requirements.
Our normal advice fee is £299 and is only payable after a successful application. That means the lender has made a legally binding agreement to lend.
There is no cost for a consultation, and no obligation to proceed with our service, we understand that you will likely want to discuss things with several advisors and that dealing with a mortgage in a foreign country, in a second or third language is a stressful and challenging time and we are happy to take the time to answer your questions and guide you through the process.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured against it. Please note that some mortgages such as commercial buy-to-let are not regulated by the FCA.
What types of visas are acceptable for a UK mortgage?
Most visas are acceptable, with the two main exceptions being tourist and diplomatic visas.
Whilst many on a diplomatic visa do not enjoy diplomatic immunity we just haven’t found any lenders that can accept them.
There are fewer options available for refugee visas but we still have suitable lenders up to 90% loan to value.
For applicants on student visas or graduate visas, the main stumbling block will be many lenders refusing to consider bursary income, and there is typically a need for some form of paid employment but lending up to 95% is still possible.
The following visas are acceptable for a UK mortgage
- Tier 1 or Skilled Worker
- Visa Tier 2 or Global Talent Visa
- Health and Care Worker Visa
- Ancestral Visa
- Spousal Visa or Dependent Relative Visa
- High Potential Individual (HPI) visa
- British National (Overseas (BNO)) visa
- Global Business Mobility Visa
- International Sportsperson visa
- Homes for Ukraine Visa
- Refugee Visa
- Scale-up visa
- Student Visa
- Graduate Visa
- Entrepreneur visa (Tier 1)
- Investor visa (Tier 1)
If you have another type of visa not listed here it is likely we can help where the visa type allows you to work and reside in the UK.
Is there a minimum time remaining on a visa for a mortgage in the UK?
In short no, there is not. Every lender's policies are different, so it ultimately comes down to a broad range of factors of the application.
Realistically a few weeks will be needed to process an application. It is also unwise to attempt to buy a property where the likelihood of a visa extension is low, as any mortgage offer could be withdrawn before completion if you fail to maintain a right to reside in the country.
There are various reasons why other websites might contradict this statement, including out-of-date information, a lack of genuine speciality in the field, information relating to only one or a limited number of lenders, or misinformation.
There are also a huge range of other factors in an application that may mean you need greater time remaining on your visa though. So you should contact us to find out the specifics for yourself.
Is there a minimum residency period in the UK to be eligible for a mortgage on a visa?
There is no minimum residency period in the UK required for a mortgage.
Due to how credit scoring works in most cases, the likelihood of acceptance depends on factors such as deposit amount, income level, whether any predated UK credit history exists for the applicant, employment factors and other nuances.
So, applicants with a 5% deposit and lower incomes might require a longer residency period before passing credit scoring than someone with a 25% deposit and a very high income.
Most lenders we work with now offer a “soft-footprint” credit check at the outset which doesn't affect your credit scoring, so there is nothing to lose by contacting us to see if you pass credit scoring, if not, we can wait a few months and try again without doing any harm.
Is there a minimum deposit required to get a mortgage whilst on a visa?
Yes. The minimum required deposit is 5%.
Again though, lots of other factors determine the minimum deposit level, including length of residency in the UK, income level, type of visa & time remaining on it, employment and income characteristics, loan size, property type and many more.
So the best thing to do is contact us for further advice on your individual requirements.
Can I use a gifted deposit from overseas for a mortgage?
Yes, gifted deposits from overseas are acceptable, subject to various other factors.
Gifts from certain sanctioned countries will not be acceptable in any circumstances, but this depends on the exact nature of those sanctions. Contact us for further guidance.
Whether the gift is acceptable will then depend on the specific lenders which are suitable for you, based on all the other aspects discussed above.
Some lenders will not allow gifts from overseas nationals, others will have a more limited range of acceptable source nations, whilst some allow deposits from most countries. Some lenders will only accept gifts from direct family members and others may accept gifts from friends as well.
So it's best to contact us for further guidance for your specific eligibility.