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VISA Mortgages

A concise guide to how UK mortgages work for visa holders and why your residency or citizenship status may impact your mortgage rates and approval prospects.

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

Almas Uddin2024-06-15
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Getting A Mortgage While On Your Visa

Applying for a mortgage on a UK property without being a resident or having the permanent right to stay can be tricky.

In this guide, the Revolution Brokers team summarises how mortgages work for non-UK nationals and the best way to find the borrowing you need.

For bespoke guidance specific to your visa status and circumstances, give us a call on 0330 304 3040, or email the team at [email protected].

How Can I Get a UK Mortgage as a Visa Holder?

A lot depends on what sort of visa you have. Many lenders will consider the application provided you have at least 2.5 years left to run - and others will have minimum requirements for how long you have lived and worked in the UK.

Even if your visa is due to expire, there are sometimes mortgage options.

In that scenario, you'd usually need a higher deposit of at least 25% and might find that your quoted interest rates are higher to counteract the increased risk.

Mortgage lenders will assess your application depending on what sort of visa you have. Most will consider:

  • Tier 1, 2 and 5 UK Visas.
  • Spousal and ancestry visas.
  • Student and work visas.
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Can I Get a Mortgage as a Tier One Visa Holder in the UK?

You can, provided you meet the other eligibility criteria. Lenders will look at:

  • When your visa expires, ideally at least 2.5 years left to run.
  • How long you have lived in the UK - the longer, the better.
  • What deposit you have. Most lenders need at least a 25% deposit.

If you don't meet those requirements, there are still options available from niche lenders, provided you appoint an experienced broker to negotiate the terms on your behalf!

Are There Mortgages for Tier Two Visa Holders?

There are, and the assessment process works similarly to tier one visa applicants.

Lenders will want to see that you have been living in the UK for at least two to three years and have a minimum of six months, and sometimes one year, remaining on your visa.

The other criteria apply, so your deposit, whether you have a UK bank account, your credit rating, and stable British employment are also factors.

How Do Mortgages Work for Applicants on a Spousal Visa?

Spousal visas mean that you are married to a UK resident or citizen and have the permanent right to live and work in the UK. Therefore, there is little chance of your visa being declined, and you shouldn't have any trouble finding a mortgage.

If your partner has a spousal visa, you can apply together for a joint mortgage - and usually borrow much more than as a sole applicant.

Can I Buy an Investment Property on a UK Visa?

Possibly, but this is usually more complicated. If you are in the UK on a non-permanent visa and want to buy an investment rental property, landlords will perceive this as reasonably high risk.

However, if the rental income will comfortably cover the mortgage interest, you have landlord experience and have a fairly long time remaining on your visa, you have a better chance of buy to let mortgage approval.

Buy to let visa holder mortgages usually require:

  • Holding either a Tier 1 or Tier 2 visa.
  • Three years living in the UK as a minimum.
  • Having at least a year to run on your visa.
  • A minimum deposit of 25%.
  • Prior experience of at least six months as a UK landlord or living in a property in the UK, which you own.

What is the Maximum Mortgage for a UK Visa Holder?

The maximum you can borrow depends on many factors, including your age, credit history, income and other debts.

Most lenders will offer mortgages at a maximum of 4.5 times your annual income. Some will offer five or even six times your yearly earnings, depending on the circumstances.

How Can I Calculate Mortgage Affordability on a Visa Application?

If you're unsure what you can afford or how much a mortgage lender might be prepared to offer, give the Revolution Brokers team a call for assistance.

The calculation includes looking at:

  • Your income and earnings.
  • Regular outgoings and debts.
  • How many dependents you have.
  • The health of your credit report.

Expert Help with Mortgages for Visa Holders

Your mortgage application success depends very much on what sort of visa you have, how much you need to borrow, and your circumstances.

For help identifying the right mortgage lender and product for you, give mortgage advisors a call on 0330 304 3040, or message the team at [email protected].

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

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FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.

We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

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