Mortgages for foreign nationals

by Aaron Strutt

Sep 20 2014

Trinity Financial specialises in arranging mortgages for foreign nationals buying or refinancing property in London and the south-east.

Many of our clients have recently moved to London as part of a relocation package with their company and they are keen to get on the property ladder.

Mortgage lenders have a full range of acceptance criteria and some banks and building societies are more open to foreign nationals than others.

Trinity regularly uses two large banks for our foregin national clients as they have attractive mortgage rates and more lenient credit scoring systems. This allows borrowers with a limited credit footprint in the UK to be accepted.

Aaron Strutt, product manager at Trinity Financial, says: “We have arranged mortgages in the past where clients have only been in the UK for a few days, although they tend to have a strong employment history.”

In order to qualify for a foreign national mortgage, borrowers will typically need to provide:

• Completed Trinity Financial mortgage fact find and declaration
• 3 months payslips and latest P60
• 3 months bank statements
• Passport and visa/documents
• Address history
• Proof of the deposit

For a client on a Tier 1 general visa or a Highly Skilled Migrant Visa it is often possible to secure a mortgage with a 10% deposit. For a client not on a Tier 1 General Visa or a Highly Skilled Migrant Visa, or without permanent rights to reside, it is often possible to get a mortgage with a 30% deposit.

Many lenders will expect applicants to have been living in the UK for a minimum of six months and have six months continuous employment in the UK, although this is not always the case. They may also ask self-employed borrowers for two years full accounts. 

If you are foreign national looking to purchase a property, call Trinity on 020 7016 0790.