Foreign National Mortgages Explained - Apply for a Mortgage

In the past, foreign national mortgages have been notoriously difficult to acquire due to the complex immigration process in the UK and the reluctance of lenders to support applications even though a person from outside of the UK may have the legal right to enter the country, take up residence and work within the British system.

The term foreign national refers to anyone legally residing within a country that is not native to them and foreign national mortgages can be set up for citizens that would choose to live and work in the UK, those wishing to purchase a commercial business investment and those wishing to purchase second or holiday homes here.

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Avoiding difficulties

As with many mortgages in the UK, providers have been working towards giving assistance on specialist cases such as foreign national mortgages. Foreign national mortgage hurdles they have had to encounter include the amount of time a foreign national has been residing in the UK, proven identity through passports or national identity cards, immigration, the tier that their visa sits within and the time remaining on that visa. Of which, the last two can still cause problems for non-EEA (European Economic Area) passport holders, as they need specific open-ended authority to enter, work and continue to reside in the British Isles.

Changes in connections within the European Union or EEA, mean that associated foreign nationals can now work and live within the realm of the UK without the many restrictions they once faced, making foreign national mortgages for EEA citizens a much easier process.

Showing commitment to remain in the UK

Foreign national mortgages can now also provide the majority of your loan to value percentage, assistance for visa tiers 1 and 2, and guidance through the immigration or right of residency process for legal citizens. You’re success in the level of finance you can achieve may be directly related to the strength of your application, so those that can prove their long-term intentions to remain within the UK and its economic system, should fare better. In addition, foreign national mortgage lenders can help you obtain a homeowner loan whether through UK or international providers, as long as the lender is imbued with the knowledge that the overseas applicant can both satisfactorily prove their identity and has, or can provide, the necessary income to meet their foreign national mortgage repayments.

What is a foreign national mortgage?

A foreign national mortgage is a mortgage provided to someone living in the UK but who is a legal resident or citizen of another country.

Are the rules the same for EU citizens?

No. Foreign nationals of countries within the European Economic Area can live and work in the UK without restriction. Therefore EU citizens who have a UK bank account and a permanent job are able to apply for a normal mortgage, although their credit score will be increased the longer they have been working in the UK, improving the chances of getting a good mortgage deal.

Do all mortgage lenders offer foreign national mortgages?

Most mortgage lenders offer foreign national mortgages. In order to apply you will need your passport or national identity card and be able to prove that you have the ability to live and work in the UK. If a lender cannot trace your credit history mortgages will only be available after living in the UK for 2 years, if you wish to get a mortgage after less than this time you will need to pass a credit score rating and put down a larger deposit.

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