As a non-UK or a non-EU citizen, we will need to produce evidence to the lender that you:
- Have lived in the UK for at least 2 years
- Have a permanent job in the UK
- Have permanent residency in the UK
- Have a UK bank account
- Have a sizeable deposit (often as much as 25%)
What if I haven't been in the UK for long?
Most lenders would require you to have been living and working within the UK for 2-3 years. However, there is a small number of lenders out there who will consider applicants with as little as 6 months address history in the UK.
The issue that typically arises if you have only lived in the UK for 6 months is that you have not had time to build up your credit score. A low credit score can affect the loan to value and level of deposit required by the lender.
The remaining length of visa is important
The majority of the lenders who are willing to lend to a foreign national require a minimum of 2 years left on the visa. However, this is not always the case and we certainly have a number of lenders that could consider a shorter time left on your visa before expiry, but this may mean that you'll need to provide a bigger deposit in order to secure the mortgage.
If you don’t have permanent residency or indefinite leave to remain (ILR) in the UK, you may still be able to apply for a mortgage as a non-EU national as long as you have one of the following:
- Tier 1 or Tier 2 Visa
- Residence Card
- Family of a Settled Person status
- UK Ancestry Visa
The above visas apply to sole or joint applications, where one or both applicants are from outside the UK/EU.
Depending on how long you have left on your visa, there are some lenders that will insist on you having been here and worked for the last 3 years. Again it’s down to your own circumstances and our knowledge of the lenders criteria.