Getting a mortgage if you’ve just returned to the UK or are planning to return from abroad can be tricky, as most lenders find it hard / impossible to track your credit history, especially if you’ve travelled round. Having little or no address history is either a flat decline with many lenders, or at best a real hindrance to your credit score which makes it hard to find finance full stop.
Fortunately, there are a handful of lenders who consider such applications, some even at competitive high street rates. The general criteria (at the time of writing and subject to change):
- Living outside the UK and not yet returned
- Only just returned to the UK
- Mortgage when back in the country 3 months
- Mortgage when back in the country 6 months
- Mortgage when back in the country 12 months
- Minimum 5% deposit, but the more the better as it helps with credit score
- Full time employment or retirement income – day one self employed are not acceptable, neither is overseas self employed income as lenders don’t accept this. There must be a minimum of 12 months self-employment and 12 months in the UK if self employed.
- Clean credit history for the past 6 years
- Maximum loan size is 4-5x salary (so if earning 25k then max is 100-125k).
^^^ If you fit the criteria above then please make an enquiry and we’ll pass you to the relevant advisor. If this isn’t you, then I’m afraid finding a mortgage will be very difficult / impossible, and you’ll need to change your circumstances or wait until you have a longer UK address history of over 12 months.