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Your guide to applying for a mortgage in the UK while living on a visa    image

10th November 2023

Your Guide to Applying for a Mortgage in the UK while Living on a Visa

Navigating the property market in the UK can be complex at the best of times, but the process becomes even more intricate when you're a non-resident with a visa. However, securing a mortgage in the UK while on a visa is possible, provided you meet certain requirements and follow the right steps. This guide will take you through the necessary considerations and steps to achieve this milestone.

Understanding Visa Constraints

The type of visa you have and the duration remaining can influence your eligibility and the types of mortgage products available to you. So before considering a mortgage, make sure that you understand the specifics of your visa conditions. To help, letss take a look at the overview of different visa constraints below:

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Factors Affecting Your Mortgage Approval

Just like any other mortgage applicant, various factors will determine your eligibility. Loosely speaking, the factors are the same if you're a UK citizen or living here on a visa. However, there may be stricter criteria like affordability checks to consider, such as:

Foreign National Mortgages

Foreign National Mortgages are designed specifically for non-UK citizens residing outside the UK or those living in the UK but not holding British citizenship. This specialist form of mortgage caters to specific financial and legal circumstances that affect those who live in the UK on a visa. There are a few things to note about this type of mortgage, such as:

Documentary Requirements

Mortgage applications require quite a lot of documentation, but if you're here on a visa then things can get more complicated. Prepare to present a plethora of documents to support your application, such as:

Potential Challenges and Solutions

Unfortunately, there are some potential obstacles in your way if you're looking to secure a mortgage while here on a visa. Thankfully, there are always workarounds - especially if you enlist the help of a mortgage advisor. So, let's go over a few potential challenges and solutions:

Securing a Mortgage While on a Visa is Possible

Applying for a mortgage in the UK on a visa requires meticulous planning and may come with its set of challenges. However, with the right approach and the aid of experienced professionals, it is entirely feasible. As you embark on this journey, remember to regularly review your circumstances, stay updated on visa regulations, and always keep your end goal in sight: owning a home in the UK.

If you have any questions about securing a mortgage while staying in the UK on a visa, then please contact our team at WIS Mortgages today. Our friendly team can help you understand your circumstances and guide you through the process to help you secure a mortgage with as little stress as possible.

Frequently Asked Questions

Q. Can I get a mortgage in the UK if I'm here on a visa?

A. Yes, you may be eligible for a mortgage even if you're here on a visa. Whether or not you'll be eligible will depend on the type of visa you have, your financial health and a few other important factors.

Q. How long do I have to live in the UK before I can get a mortgage?

A. For a standard mortgage, most lenders will look for at least 3 years of address history. However, there are specialist lenders and financial products that might allow you to obtain a mortgage sooner.

Q. Can I buy a house in the UK if I'm on a visa?

A. Yes, there are very few exceptions that would stop you from outright purchasing property in the UK if you're on a visa. You don't have to be a UK national to purchase property and you don't have to be based here either. This isn't true for mortgages though, which have stricter guidelines.

As a mortgage is secured against your home or property, it may be repossessed if you do not keep up the mortgage repayments. The Financial conduct authority does not regulate taxation advice or commercial buy to lets.

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