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Our Mortgage Adviser Info – Getting a mortgage as a Foreign National

Getting a mortgage is always a tricky task and being a foreign national doesn’t change that. In fact, it can make the process even more difficult. Need a mortgage adviser that can help reduce your stress and relax? At Mortgages Online we can show you how you can get a mortgage in the UK as a foreign national. All you need to do is carry on reading to find out! 

Getting a mortgage is a confusing experience for everyone - foreign national or not. But, it’s by no means impossible to navigate your way around. Around 14% of UK citizens were born abroad, so that surely means that there are millions of others in the UK who either own a home or looking to buy one just like you, right? Correct. We can be the mortgage adviser you need to help you buy the house of your dreams on UK shores! Now, read on!

For those who ARE coming from the EU:

If you’re an EU citizen, getting a mortgage in the UK will be easier! Until Great Britain finally takes its ‘long awaited’ departure from the EU (who knows if it will at all) your nationality shouldn’t be a hindrance to your mortgage application. This is because so long as you are a citizen in another EU state then lenders will be unable to deny your application solely on your nationality.

Now, what we need to focus on is your credit history. If you possess an EU passport then you will have a credit history. This means that providing you have been a citizen in the EU for at least two years, you have a bank account based in the UK and a permanent, contracted UK job & pay atx in the UK then you should be able to get a UK mortgage.

Now you’re probably asking what happens if you’ve only just moved here? Ensuring that you have a good credit history is going to be vital for you to pass any affordability assessments that lenders will run. So, make sure you work on building your credit history before you arrive in the UK.

While that might seem daunting there are loads of simple ways of improving your credit score. For example, you can apply to be on the electoral register and make sure that you pay off small expenses such as your mobile phone contract or any outstanding utility bills.

If you fulfil these requirements, then it will be much easier for you to get a mortgage as an EU citizen. While there will undoubtedly be different mortgage advisers that say they can make this process even easier for you, unless you have ticked off the criteria that we have laid out, it’ll be a difficult task.

For those who AREN’T coming from the EU:

To put it bluntly, if you’re a citizen coming from outside of the EU, things are going to be more difficult. But where there’s a will there’s a way! To save you any unnecessary emails to other mortgage advisers it’s important to realise the main obstacle facing those who are coming from outside of the EU is tracking your credit history. This is because you won’t be an EU national.

This means there are certain requirements that you have to meet to have a better chance of having your mortgage application accepted. This is to prove that you’re taking positive steps to create a good credit footprint for yourself. For example:

  • Make sure you have a permanent, contracted UK based job.
  • Have a bank account based in the UK.
  • You have been living in the UK for around two years (though some lenders will require you to have lived in the UK for a minimum of three years).
  • You must also have permanent UK residence rights or a work permit here in the UK.

Don’t meet these criteria either? Then don’t worry we have you covered. The biggest problem that tends to crop up here is where applicants do not have permanent UK residence. Luckily, you may still be able to apply for a mortgage if you have either a residence card, UK ancestry visa, family of a settled person visa or a tier 1 or tier 2 visa. You can apply for any of these visas three months before you start work in the UK and should get your decision in under month. If this looks like an attractive proposition to you then start applying soon!

Also, note that some lenders contrast tier 1 and tier 2 visas by giving those with the former a loan value of up to 95% in comparison with 70% with the latter. While this shows you the importance of taking your time and seeking advice, also rest assured that not all lenders are like this and plenty of them will offer high loan values regardless of which visa you have.

What can MO do to help?

At Mortgages Online we are an online mortgage adviser who can make a difference. We know that if you’re stepping into a country that you might not be familiar with it can seem difficult to take this all in. But, we are an online mortgage adviser that can offer you free advice through our website.

This means that we can help you get a mortgage with the best rate for you by comparing an array of different lenders. When comparing rates bear in mind that they will vary depending on the property that you go for. The higher the deposit means the better the rate will be. If you’ve got any other questions don’t be afraid to get in touch and ask away!

For loads of mortgage advice, visit our Articles page. We’ve got tonnes of resources written by mortgage brokers and experts, to help you understand all things mortgages better. Everything from the types of mortgages, stamp duty information, first-time buyers guides and even mortgage calculator guides.

What’s that? All this, free of charge? Yes, leave your credit card in your pocket. All of our services are free!


Laura Waller

Laura Waller has been working in the mortgages industry since 2013, joining an independent brokerage in Essex. Laura has CeMAP 2 & 3 – Certificates in Mortgages Advice and Practice. Since then Laura oversees marketing for Mortgages Online, using her experience and expertise to write articles and blogs about mortgages and related topics.

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