Mortgages For Non-UK Citizens

Non UK Citizen Blog

If you are a foreign national living in the UK, you might want to buy a property while you are here – whether a new family home or just a temporary residence for you to work from.

Your choices when getting a mortgage for a property depend on two things:

  1. Whether you are an EU National
  2. How long you have lived and worked in the UK

Let’s take a look at how these affect your ability to get a mortgage while staying in the UK.

EU Nationals

If you are an EU National, you need to provide a traceable credit history when applying for a mortgage in the UK. This credit history is the first step in getting a UK residential mortgage.

Aside from that credit history, there are three other basic requirements for getting a mortgage in Britain:

  • You must have been resident in the EU For more than three years
  • You must have a UK bank account
  • You must have a permanent job in the UK

For many EU Nationals already living and working in the UK, these three requirements will not be hard to gain and prove. If you can meet these requirements, and provide a traceable credit history, you shouldn’t have any problems getting a competitive standard UK or buy-to-let mortgage.

Non-EU Nationals

Non-EU nationals won’t have a traceable credit history in the UK. This obviously makes the mortgage process trickier, as you have to dig out more documents (and we all hate doing that) to prove your eligibility for a UK mortgage.

Nevertheless, the requirements for Non-EU Nationals wanting a mortgage are by and large similar to those set for EU Nationals.

  • You must have been resident in the UK for more than two years
  • You must have a permanent job in the UK
  • You must have permanent residence rights or a work permit for the UK
  • You must have a UK bank account

Being able to prove a permanent right to residence in the UK is much more preferable in the eyes of lenders to having only a UK work permit. However it is not the be all and end all – there are lenders out there who will give you a mortgage based solely on your work permit.

Less flexible is the amount of time you have lived in the UK (note it must be the UK, not the EU). Being a resident of the UK for at least two years is a necessary part of building up a UK credit history, which is the foundation of proving you have the ability of paying back a mortgage.

Is Brexit an Issue?

Theresa May confirmed in June 2017 that all EU Nationals and their families who have lived for at least five years in the UK will now be able to gain ‘settled status’, meaning you have the same rights as British citizens.

To get ‘settled status’, you will have to apply through the Home Office for a residency document over a 2-year window, each costing around £65.00.

All EU Nationals who move to the UK before the cut-off point will be given ‘blanket permission’ to stay for a period – expected to be up to two years.

Can GIGLY help?

As always with non-standard mortgage requirements, by far the best way to find a suitable choice of mortgages is by going through an independent advisor.

Our FCA regulated advisors have access to the whole mortgage marketplace, including mortgages that are only offered through brokers (i.e. not directly to customers) where sometimes the best deals can be found. So no matter what your circumstances, GIGLY will be able to point in you the direction of the broker that is best for you.


Photo by John T on Unsplash