Is Remortgaging Easier for Foreign Nationals in the UK?

Introduction

If you are a foreign national living in the UK and already own a property with a mortgage,
you might be surprised to learn that remortgaging is often easier than getting your first mortgage.

Many international buyers worry that every new mortgage application will be just as complex
as their original purchase.
In reality, once you already have a mortgage, the process usually becomes far smoother and
more flexible.

Let’s break down why.

Why Remortgaging Is Usually Easier for Foreign Nationals

1. You Already Have a Mortgage History

Lenders like certainty.
When you already have a UK mortgage, they can clearly see:

• Your payment history
• How you manage credit
• That you are a proven borrower

This instantly makes you lower risk compared to when you first arrived in the UK.

2. Your Current Lender May Not Reassess Your Income

One of the biggest advantages of remortgaging with your existing lender is that they
often do not reassess your income at all when offering you a new product.

So even if:

• Your income has reduced
• Your job has changed
• Your circumstances are slightly different

Your current lender may still simply offer you a new deal based on your existing loan.
That can be a huge relief for many international clients.

3. Your Loan Balance Has Reduced

If you started with a 25 or 30 year mortgage, after 2 or 5 years your outstanding balance will
be lower.
This improves your:

• Loan to value (LTV)
• Overall risk profile
• Access to better products

Even small reductions in your mortgage balance can open the door to more competitive rates.

4. Your Deposit Position Has Improved

Many foreign nationals start their UK property journey with a 10% deposit.
After a few years of payments and property growth, you might now effectively have:

• 15% equity
• 20% equity
• Or even 25% equity

Once you pass the 25% equity mark, the number of lenders willing to support foreign
nationals increases significantly.
That gives you far more choice.

5. Your Credit Profile Is Stronger

Holding and maintaining a mortgage has a very positive impact on your UK credit profile.
Over time you also build:

• Address history
• Financial footprint
• Electoral and utility records

All of this makes you much easier for lenders to assess.

6. Longer UK Residency Helps

If you have now lived in the UK for two years or more, this further strengthens your case.
Lenders gain confidence from:

• Longer residency
• Stable employment history
• Clear financial trace

Which again works in your favour when remortgaging.

The One Catch: Staying With Your Lender vs Going to the Market

While your existing lender may make remortgaging extremely easy, they do not always offer the
best rates in the market.

That is where advice becomes critical.
Sometimes staying put is the right decision.
Sometimes switching saves thousands over the next few years.

At WIS Mortgages, we compare both options side by side so you can clearly see what works
best for your situation at that point in time.

So, Is Remortgaging Hard for Foreign Nationals?

In most cases, no.
If anything, it is often one of the easiest stages of your mortgage journey in the UK.

With the right advice, many foreign nationals move into much stronger mortgage positions
over time.

FAQs

Is it easier to remortgage than apply for a first mortgage as a foreign national?

Yes. Once you already have a mortgage and payment history, lenders see you as much lower
risk.

Will my income always be reassessed when remortgaging?

Not always. Many existing lenders offer new products without reassessing income.

Does a bigger deposit help foreign nationals when remortgaging?

Yes. Once you reach around 25% equity, far more lenders become available.

Can I remortgage if my income has dropped?

Often yes, especially if you stay with your current lender.

Should I always stay with my current lender?

Not necessarily. They may be the easiest option, but not always the cheapest. A full market
review is always worthwhile.

Important FCA Warning

As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments.