Can I Get a Mortgage Without Permanent Residency?

20 December 2021

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

These statuses were first introduced when 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 can be less generous, and some require the applicant to provide as much as a 25% deposit.

Settled Status

Usually, if the applicant has settled status, the majority of lenders tend to not have as many restrictions with income.

Pre-settled Status

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

Temporary Visas

For applicants that have temporary visas, the criteria imposed by lenders tends to be the strictest. Some criteria require the 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 applicant’s visa. Some lenders will not offer a mortgage unless an applicant has indefinite leave to remain (ILR). Again, the amount of deposit can vary, but the majority of lenders will require a higher deposit for clients who are in the UK on a visa.

Overall, this can be a complex area and applicants in these categories should contact an independent mortgage advisor for the best possible advice.