Working Visa Mortgages

Working Visa Mortgages in the UK

Foreign nationals living in the UK on Tier 1 or Tier 2 visas or similar often seek specialized mortgages tailored to their unique circumstances. Here are five key factors to consider when applying for a Foreign National Mortgage:

1. Deposit Requirements: The amount of deposit you’ll need can vary based on how long you’ve been residing in the UK. Most lenders typically require a 25% deposit. However, if you have lived in the UK for two years or more, certain lenders may accept a lower 10% deposit.
2. Visa Expiry Date: Lenders usually require a minimum of six months remaining on your visa as a general rule. Nevertheless, depending on your individual situation, some lenders may be more flexible regarding the remaining length of your visa.
3. Bank Statements: To assess your financial stability, lenders typically request your most recent three months’ worth of bank statements.
4. Proof of Address: Lenders will ask for a comprehensive three-year address history, including any foreign addresses you may have lived at during that time.
5. Proof of Identification: Your passport serves as a valid proof of identification and is typically required as part of the application process.

Accepted Visa Types

Foreign nationals holding Tier 1 visas such as Investors, Entrepreneurs, and Talent visas, as well as those on Tier 2 long-term working visas, are generally eligible for these mortgages. We have successfully assisted various professionals, including NHS workers, IT professionals, and individuals from various trades, in securing mortgages in the UK while holding a working visa.

Competitive Interest Rates

One common concern is whether the interest rates for working visa mortgages will be competitive. The good news is that we work with specific lenders who cater to individuals on working visas, and many of these lenders are among the world’s largest financial institutions. Therefore, you can typically expect competitive interest rates that match the market standards.

If you are currently residing in the UK on a Tier 1 or Tier 2 visa and are considering purchasing a property, don’t hesitate to get in touch with us. We’re here to provide you with expert guidance and support to make your homeownership dreams a reality.