First-Time Buyer Checklist for Skilled Visa Workers

Getting your first mortgage in the UK is a massive accomplishment that marks the beginning of a whole new chapter in your life. If you’re living in the UK under a Skilled Worker visa and want to get your first mortgage, getting a mortgage is possible, although lenders may have stricter criteria you’ll need to meet. Lenders will have different eligibility requirements, visa conditions and credit history expectations for Skilled Worker visa holders, so it really helps to plan ahead before applying.

In this article, we’ll provide you with a first-time buyer checklist for skilled visa workers. We’ll cover all you need to know to prepare for homeownership in the UK, as well as how our team at WIS Mortgages can make the mortgage journey a little easier.

Key Takeaways

• Skilled Worker Visa holders can get UK mortgages with many mainstream and specialist lenders willing to lend to foreign nationals with stable employment.
• Your visa type, remaining visa length and UK residency duration all play a part in your eligibility.
• Building a strong UK credit profile early is important because overseas credit history does not transfer to the UK.
• A larger deposit increases approval chances and unlocks better interest rates, especially for applicants with limited UK credit history.
• A broker experienced with Skilled Worker Visas can match you with visa-friendly lenders, maximise accepted income, and guide you through complex documentation.

This article is for information purposes only and does not constitute personal advice. Your home may be repossessed if you do not keep up repayments.

1. Is Your Visa Type Accepted by Lenders?

First things first, make sure you have a suitable visa before applying for any mortgage. If you’re here on a Skilled Worker visa, then you should be eligible to apply for a mortgage.

Some lenders may consider Skilled Worker visa holders as lower risk, particularly where stable employment and income can be demonstrated. Beyond the right visa, lenders also like to see:

• At least 6 to 12 months of UK residency (some lenders may accept less)
• A minimum remaining visa length between 6 and 24 months
• Evidence that you have the right to work in the UK full-time

If you are nearing the end of your current visa period, we recommend renewing it before applying to strengthen your case.

2. Do You Have a Strong UK Credit Profile?

One of the most common issues we see with skilled visa workers applying for mortgages is that they haven’t built up a sufficient credit history in the UK. Lender’s won’t accept credit history from foreign countries, so it’s really important to build a decently strong credit profile in the UK to maximise your borrowing potential. Thankfully, there are a few things you can do right away to help your credit profile:

• Register on the electoral roll (if eligible under local voting rules)
• Open a UK bank account and use it for salary, bills and day-to-day spending
• Set up direct debits for utilities or subscriptions
• Apply for a starter credit card and repay it in full every month
• Keep your addresses consistent across all financial accounts.

Most lenders are looking for at least 3 to 12 months of UK credit history. If you start building your credit earlier, you can give yourself more choice of mortgage options.

3. Do You Have the Right Documents Ready?

Another hangup for many skilled visa workers is not having all of the documents they need to apply for a mortgage. Lenders ask for more documentation if you’re here on a visa than if you were a UK national. So, it really helps to organise these ahead of time so you’re prepared. You will typically need the following documents:

4. Have You Saved Up Enough of a Deposit?

While some lenders accept a 5% deposit from Skilled Worker Visa holders, we’ve found this to be quite rare. In most cases, lenders prefer that you bring 15 to 20 % to the table. Having more saved opens more doors for you and potentially reduces your interest rate.

If your deposit is coming from abroad, ensure the funds can be traced clearly. It’s also useful to start collecting bank statements from overseas accounts early, as lenders often need up to 6 months of documentation.

5. How Much Can You Borrow?

Lenders calculate affordability differently, so it’s useful to work with an advisor to compare different options. Some lenders may offer 4 to 4.5 times your income, and in certain cases (such as specific professions) higher multiples may be considered. This is always subject to individual affordability assessments.

Certain professionals, including some healthcare, tech, finance and engineering roles, may qualify for enhanced income multiples. This can be up to 5 or even 5.5 times salary, depending on the lender and your financial profile.

Our team at WIS Mortgages can provide an accurate affordability check based on your payslips, visa length and outgoings.
Not sure how much you can afford on your mortgage? Our mortgage affordability calculator is free to use and only takes a few clicks.

6. Have You Had Any Major Financial Changes Recently?

Lenders examine spending and financial commitments closely. Big lifestyle changes before applying can impact the amount you’re able to borrow. So, before applying for your mortgage, make sure that you avoid:

• Taking out any new loans
• Financing a car
• Overusing your overdraft
• Applying for multiple credit cards
• Making any large unexplained financial transfers

Ideally, you should be able to show lenders that you have low debt, consistent income, stable spending patterns and regular savings deposits. Keeping your finances steady for at least 3 months before applying is a great way to strengthen your application.

7. What Types of Mortgages Are Available?

There are a good few options available to skilled visa workers in the UK looking for a mortgage. It can be quite tricky to figure out which one is best for you, which is why it can be helpful to have a mortgage advisor guide you through your options. Below, we’ve outlined the most popular mortgage products in the UK you may be eligible for:

• Fixed-Rate Mortgages: A fixed-rate mortgage is particularly useful for budgeting as your payments remain stable.
• Tracker Mortgages: Choosing a tracker mortgage means that your mortgage rate will move in line with the Bank of England base rate.
• Joint Mortgages: A joint mortgage is useful in some cases as it allows you to combine income with a spouse, partner or friend.
• Guarantor or Joint Borrower/Sole Proprietor Mortgage: A guarantor mortgage or joint borrower/sole proprietor mortgage is a useful way to boost affordability without adding someone else to the property deeds.
• First-Time Buyer Mortgage: First time buyer mortgages are available if this is your first mortgage. Many lenders will offer reduced fees or incentives with these mortgages.

8. What Government Schemes Are Available to Skilled Visa Workers?

Another great way to make the mortgage journey a little easier is to look into the various UK Government schemes for mortgages. Many skilled visa workers are surprised to learn they can qualify for UK home-buying support schemes, but each scheme has eligibility requirements. Some popular schemes include:

Shared Ownership

The shared ownership scheme is a way to purchase a home gradually through a process known as staircasing. With this approach, you purchase a share of a property (usually 10% to 75%) and pay rent on the remainder. Over time, you can purchase more shares until you have complete ownership.

First Homes Scheme

The First Homes scheme is specifically for first-time buyers. It allows you to purchase the property at a discounted rate (usually 30 to 50 % less than market value). The home must be your only or main residence.

Right to Buy

The Right to Buy scheme is useful if you live in council housing and want to purchase the property. This scheme allows you to buy your council property at a discounted rate.

Lifetime ISA

The Lifetime Interest Savings Account (ISA) is a Government scheme that can be used to save for a mortgage deposit. It offers a 25% bonus on savings for first-time buyers.

Case Study: Helping a Skilled Worker Visa Holder Save for a Mortgage

Our team at WIS Mortgages have helped many clients prepare and successfully apply for a UK mortgage. In one recent case, we supported a couple who had been living in the UK for two years. Their income was healthy, around £33,000 and £15,000 each. Unfortunately, high rental costs were a big barrier for this couple saving enough for a mortgage deposit.

Our strategy was to help them build a strong credit profile and save for a decent deposit. We advised them to reduce daily expenses where possible, as well as to start using ISA and Lifetime ISA schemes. We also asked them to start setting up direct debits and using their credit cards responsibly to build a strong credit history.

By following every step on our checklist, the couple were successful in securing the mortgage they wanted. This was in spite of the modest salaries and visa restrictions. It goes to show that with careful planning, structured saving and professional guidance, first-time buyers on a Skilled Worker visa can achievably get their first mortgage in the UK.

Please note: This is a generalised example and not a recommendation. Individual advice should be obtained from a qualified mortgage adviser.

Frequently Asked Questions

Q. Can Skilled Worker Visa holders get a mortgage in the UK?

Yes. Skilled Worker Visa applicants are widely accepted by UK lenders, especially those with stable employment, consistent income, and the right documentation.

Q. How long do I need to live in the UK before applying for a mortgage?

A. Some lenders accept applicants immediately, while others require 6 to 12 months of UK residency. A mortgage advisor, like one of our team at WIS Mortgages, can identify lenders with more flexible rules.

Q. How much remaining time must be left on my Skilled Worker visa?

A. Lenders typically require 6 months to 2 years remaining on your visa. Renewing your visa before applying is useful as it could improve your chances of success.

Q. Does overseas credit history count toward a UK mortgage?

A. Unfortunately, lenders only use UK credit files. It’s important to build UK credit early through bank accounts, mobile contracts, and responsible credit card use.

Q. Can I use money from overseas as my deposit?

Yes, funds from abroad can be used. However, the funds must have a clear, traceable audit trail. Lenders may request foreign bank statements, translations and currency conversion evidence.

Q. Can skilled visa workers use government home-buying schemes?

Yes. Many Skilled Worker Visa holders are eligible for Shared Ownership, First Homes, the Lifetime ISA, and sometimes Right to Buy, depending on local rules.

Let WIS Mortgages Make Your Mortgage Journey Easier

Buying your first home in the UK as a Skilled Worker Visa holder is absolutely achievable, but preparation is really important. As specialists in supporting foreign nationals and skilled visa holders, WIS Mortgages can guide you through every step. From assessing affordability to securing the right lender for your visa type and income structure, our team is here to help.

With the right preparation and support, your dream of owning a UK home can become a reality sooner than you think. To start your mortgage journey with WIS Mortgages, please get in touch with us today.

Important FCA Warning

This article is a financial promotion approved by WIS Contractor Mortgages Ltd, authorised and regulated by the Financial Conduct Authority.
Calculations are estimates and do not constitute an offer. Affordability assessments vary by lender.
As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments. Written by the mortgage experts at WIS Mortgages, specialists in complex income and affordability assessments.

WIS Mortgages is a trading name of WIS Contractor Mortgages Limited, which is authorised and regulated by the Financial Conduct Authority. FCA number: 824411.

This article is for information purposes and does not constitute personal mortgage advice. You should speak to a qualified mortgage adviser to assess your individual circumstances.