Getting a Mortgage as a Foreign National in the UK

Moving to the UK can be an exciting process, living in a new city, meeting new people, and starting a new life. However, with average rents increasing to £1,386 (a 7.8% rise) in England over the past 12 months, many are eager to get on the property ladder as soon as possible. So, how do you get a mortgage as a foreign national in the UK?

What is a foreign national?

In the UK, a foreign national is defined as someone who is not a British citizen. This includes Individuals who hold citizenship in another country and do not possess any form of British nationality.

Foreign nationals can reside in the UK under various immigration statuses:

Biometric Residence Permits (BRPs),

which serve as proof of the holder’s right to stay, work, or study in the UK

Temporary visas

(e.g., student, work, or visitor visas)

Indefinite Leave to Remain (ILR),

which allows a person to live and work in the UK without time restrictions but does not confer British citizenship

Can I get a mortgage in the UK on a temporary visa?

Yes, it is possible to get a mortgage in the UK on a temporary visa, Indefinite Leave to Remain, or with a BRP. However, eligibility will depend on factors such as your income, job type, existing debts, the length and type of your visa, time spent in the UK, and the size of your deposit.

Time in the UK

The amount of time you have been in the UK, from when you arrived to the present, plays a major role in getting a mortgage as a foreign national, as most lenders require you to have been in the UK for at least 1–3 years.

A very small number of specialist lenders may allow you to get a mortgage if you have been in the UK for 0–6 months, but it’s important to speak to a mortgage adviser who can connect you with the right lender.

Job type & Income

Most lenders will require you to have either a minimum income as a foreign national or a certain job type if you are on a temporary visa.

If you are on a temporary visa, some lenders may require a minimum income of £50,000, while others, particularly specialist lenders, may not. Some lenders may also only accept your application if you are in a high-demand job role.

Debts and commitments

As with any mortgage, how much you can borrow, and whether you can borrow at all, is determined by your income and current debts or commitments, such as vehicle leases and credit cards.

As a foreign national, the majoirty of lenders will treat you the same as a UK citizen when it comes to credit criteria.

Deposit size

This is another major factor that affects what mortgages are available to foreign nationals. Most lenders will require a minimum deposit of 25% and may require it to come from a UK source, such as UK employment.

A handful of specialist lenders may allow a 10% deposit, depending on your circumstances, but this often comes with higher interest rates.

How do I get a mortgage as a foreign national in the UK?

Getting a mortgage as a foreign national in the UK can be a difficult process to navigate on your own, especially if you’re new to the country and English is not your first language, as the mortgage jargon can be quite confusing.

As long as you have a income, low debts and enough time left on your Visa, you will be able to get a mortgage.

The best way to achieve your goal of getting a mortgage and securing the best possible rate is to contact a mortgage adviser who can guide you in the right direction.