Mortgages for Foreign Nationals

Foreign national mortgages

Foreign national mortgages can be a confusing topic, so it’s important that you get the right advice. This is because, it could help you boost your chances getting the best rates that you available.

There are many websites that claim to have the answers for foreign nationals mortgages, however, most will find it’s often difficult to get reliable advice. Don’t forget, bad advice can cost you time and money.

At Azembel, we have a years of experience when it comes to arranging foreign national mortgages. Our expert advisers have strong relationships with trusted private banks, specialist lenders, and other professional advisers to help our international clients.

What is a foreign national mortgage?

Even if you’re not a British citizen, it’s still possible for you to get a mortgage. A foreign national mortgage are for those who meet the following three criteria:

  • Non-UK resident
  • Born outside of the EU but have indefinite leave to remain or permanent residency

Foreign national mortgage can I get one UK?

Yes! There are an increasing amount of mortgage lenders are offering foreign national mortgages. Speaking to us before you go ahead with your application could save you time and money

How do I get a foreign national mortgage

First of all, if you haven’t done so already, open a bank account and keep it active.

If this option is for available, some lenders will accept mortgages paid in foreign currency

Visa classes and how it affects lending

Visa classes are important when it comes to foreign national mortgages, because for many it understands the status of checking how long you have been in the country and how long you will stay.

The three main types of visas and what they may mean for your mortgage potential:

Buy to let mortgages

Buy to let mortgages for foreign nationals in general are considered by mortgage lenders, in terms of risk, similar way to a standard residential mortgage.

A long term stay, before application is encouraged, because since it gives them more credit history to check.

This means the process is often easier for those who have permanent residence rights in the UK, full working UK permits, or they have lived in the country for two years.

That’s doesn’t mean some lenders won’t consider those who don’t fit those requirements.

Commercial mortgages

Yes, you can to get a UK commercial mortgage even though you’re a foreign national.

Remember that commercial mortgages work differently to residential.

Foreign national mortgage rates and lenders

As mortgage rates continue to change it’s best to concentrate on averages when trying to figure out if you will get a good one. Mortgages for foreign nationals can also be a little confusing. As a foreign national you may be placed in a position where you are considered as higher risk to lenders.

Things that could affect you – or create a higher chance of being declined are – adverse credit history, income source, deposit size and property type

Azembel Ltd is a Trading style of TMG Limited, which is authorised and regulated by the Financial Conduct Authority. Registered address 71-75 Shelton Street, Covent Garden, London, WC2H9JQ Registered No. 786245.