Can you get a mortgage without permanent residency?

When it comes to mortgages for those who are from outside of the UK, lenders have different criteria. This generally falls into three different categories: pre-settled status; settled status; and temporary visa.

These statuses were introduced as Britain left the EU in January 2020.

Some lenders will lend up to 95% loan-to-value in each of the three categories, depending on the applicant’s income, and if they have a permanent job. Others are less generous, and some require the applicant to have as much as a 25% deposit.

Settled status

Generally, if the applicant has settled status, most lenders tend not to have as many restrictions with income.

Pre-settled status

With regards to pre-settled status, the level of deposit that would be required from an applicant will vary from lender to lender, ranging between 5 and 25%.

Temporary visas

When it comes to applicants who have temporary visas, this is probably the strictest criteria that lenders impose. Some of their criteria requires applicants to have lived and worked in the UK for a minimum of two years, while others may require a minimum term of six months remaining on the applicants’ visa. Some lenders will not offer a mortgage unless an applicant has indefinite leave to remain (ILR). Again, the amount of deposit required varies, but the majority of lenders will require a higher deposit for clients who are in the UK on a visa.

In summary, this can be a complex area and applicants in these categories should seek independent mortgage advice.

If you require advice in this area, or for all your mortgage and financial needs, please contact me on 07778 066595, as I would be more than happy to assist you.

Get in touch with ESPC Mortgages

ESPC Mortgages is a team of independent mortgage advisers with a wealth of experience. Get in touch on fsenquiries@espc.com or 0131 253 2920.

The initial consultation with an ESPC Mortgages adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £395 (£345 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.

The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

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ESPC (UK) Ltd is an Appointed Representative of Lyncombe Consultants Ltd which is authorised and regulated by the Financial Conduct Authority.