What are the rules for foreign national mortgage applicants?

February 27, 2021
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As a foreign national living in the UK, there are two main ways that lenders will consider your application. This is applicable if you are a foreign national living and working in the UK and seeking to secure a mortgage.

  1. The applicant is qualified based on the length of time in the UK OR
  2. Application is qualified based on the length of time left on the current visa

Applicants can apply under rule 1 or rule 2 or as a combination of both rules. Applicants seeking to apply under rule 1 should seek to ensure that their credit history is up-to-date, as this is often the only way to determine if an applicant has been resident in the country.

In the table below, you can see the deposit requirements for different visa types and rule 1 and rule 2 criteria an individual will need to meet. This is only applicable for conventional house purchases, which means for your primary residence. If you are looking for a New Build, shared ownership, shared equity or Help-to-Buy mortgage, contact Niche Mortgage Info for further advice.

Minimum time in the UK Minimum time left on visa Tier 1 Tier 2 Entrepreneurial & Ancestry
6 months 6 months 10% 30% 30%
2 years None** 10% 10% 10%
None 2.5 years 10% 10% 10%
None 2 years 20% professionals only NA NA

** Note that your home purchase must be completed before your visa expires.

To find out more about getting a mortgage while in the UK on a visa, get in touch with Niche Mortgage Info.

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