Whether you are an EU or non-EU citizen, getting a mortgage as a non-UK citizen can be difficult.
I’m an EU national…
If you are an EU national, and have a traceable credit history, then you could be eligible for a regular UK residential mortgage, if you meet three requirements. Depending on whether you have been a resident in the EU for more than three years, have a UK bank account and have a permanent job in the UK, you could get a regular residential mortgage. You will, however, still need to meet the criteria set by the lenders in order to get a mortgage.
I’m a non-EU national…
If you are a non-EU national, and have no traceable credit history within the UK, then obtaining a mortgage is slightly more complicated. The basic requirements for a non-EU national applying for a mortgage are one or more of the following:
You must have been a resident in the UK for more than two years
Have permanent residence rights in the UK, or a valid UK work permit
Have a permanent job in the UK
Have a UK bank account
Permanent residence is preferred to only having a valid work permit, but there are some lenders who will consider an applicant if they only have a work permit.
Why are these requirements in place?
These requirements are generally to ensure that the applicant has built up a UK credit history, which the lenders will check when you apply for a mortgage.
Is there another option?
Yes, there is. A self-certification mortgage, also known as a non-status mortgage, lets you obtain a mortgage if you can provide at least a 25% deposit and agree, in writing, to being able to afford the mortgage repayments. By providing a higher deposit than normal, you balance out some of the risk to the lender, increasing your chances of being accepted, even if you don’t meet some of the usual requirements.
For advice on how to get a mortgage if you are a non-UK citizen, speak to one of our specialist mortgage advisers who will be able to help you with the next steps.