Getting a Mortgage on Tier 2, Spouse and Other Types of Visas

In this article, we’ll explain how to get a mortgage in the UK with a visa, what types of visas are acceptable to mortgage lenders and how a broker can help boost your chances of success.

Can you get a mortgage in the UK with a visa?

Yes, but as a foreign national, it isn’t as straightforward as if you were a UK resident. The requirements can differ depending on your visa type, and lenders will consider additional factors such as how long you’ve been in the UK and the length of time left on your visa.

What if you don’t have indefinite leave to remain?

You don’t need indefinite leave to remain to secure a mortgage, though if you do and/or you’re on a spousal visa, you should find more options open to you.

The complexity of this area means seeking the right kind of support is essential, which is why we’d always recommend speaking with a broker specialising in mortgages for visa holders to help determine your eligibility and find the right deal for you.

Are the lending requirements different?

Yes. In order to be approved, you’ll need to pass other, more specific lending criteria in addition to the usual eligibility checks.

For example:

• You’ll normally need a minimum of 12 months remaining on your visa (though more is preferred) unless you have confirmation from your employer that your work permit is being renewed.
• To build a suitable credit score, you’ll need to have lived in the UK for at least two years, though this can vary—some lenders will accept less, while others expect more, in some cases a minimum of five years.
• Your credit footprint must be clean.
• Affordability checks may be stricter and minimum income requirements higher – often at least £75,000.
• You’ll likely need to prove full-time employment with appropriate payslips.
• Deposit requirements are often higher, and as such, you’ll qualify for a lower loan-to-value (LTV). Some lenders stipulate that deposits must also come from the applicant’s own resources (i.e., they can’t be gifted).

How to get a mortgage with a visa

Here are the key initial steps you should take to stand the best possible chance of securing a visa mortgage:

• Collate all of your documents together. Remember, you’ll need to provide plenty of supplementary evidence to prove your visa status, employment and affordability profile to lenders, so make sure you’ve got everything to hand.
• Check your credit score. Most lenders will accept nothing less than a stellar credit score if you’re seeking a visa mortgage, so make sure yours is up to scratch – and if you notice any errors or areas you could improve on, now’s the time to sort it.
• Speak to an expert broker. Once you’ve gathered the correct documentation, checking your credit score and are sure you match the criteria (outlined above), the next step is to speak with a broker. They will know the lenders who can accept visa applicants to save time and stress. They’ll be able to help you work through the process, too, and will ensure you stand the best chance of acceptance. Get in touch to see the difference this kind of support can make.

Remember the more general requirements for the mortgage application process, too, so you know what to expect when applying.

Types of visa acceptable to lenders

The type of visa you’re on can play a huge part in your mortgage eligibility and the criteria the lender sets.

Here’s an overview of the types of visas that may be acceptable to mortgage lenders.

Tier 1 visa

Tier 1 visas can no longer be applied for, but if you already have one, you should be able to find a suitable mortgage provided you meet the criteria. For example, you’ll typically need to have been in the UK for at least two years and ideally have at least a year left on the visa.

Affordability generally won’t be an issue for this kind of application, given that tier 1 visa holders are normally either in well-paid employment, are entrepreneurs, or can make significant investments in the UK.

Tier 2 visa

Tier 2 visas – or skilled worker visas – have broadly similar requirements to tier 1. Lenders’ main concern will be how long you’ve been residing in the UK and the length of time left on your visa. You’ll also typically need a UK-based current account in order to be eligible. 

Spousal visa

Spousal visas – granted to those married to UK nationals – are typically treated the same as tier 1 and tier 2 visas, with the visa holder granted the right to live and work in the UK.

Lenders consider this kind of visa less risky and, therefore, should make it relatively easy to secure a mortgage. Getting a joint mortgage on a spouse visa should be even easier (provided the other applicant is a UK national with a permanent right to remain).

Ancestry visa

There are a few lenders that will accept applications from those with an ancestry visa, but you’ll likely need a larger deposit and must pass all other affordability criteria, together with more typical mortgage visa requirements (length of time in the UK, etc.).

Student visa

If you have a student or tier 4 visa, only a handful of lenders will offer you a mortgage. You’ll still need to have been in the UK for a certain length of time and will likely need a larger deposit – which can be provided by family members – and it may be easier to be accepted if you’re applying for a joint mortgage with a UK national.

British National Overseas (BNO) visa

Hong Kong nationals on a BNO visa should certainly be able to secure a mortgage, provided they can prove full-time employment, have a larger deposit (typically at least 25%), and, again, have ideally been living in the UK for a minimum of 12 months and have a minimum of one/two years remaining on the visa.

Which visas aren’t acceptable?

Not all visas will be suitable for a mortgage, most notably tier 5 visas. These are for temporary workers, and, given the nature of the visa – which will normally be issued for a maximum of 12 months – it’s highly unlikely you’d be able to secure a mortgage. Similarly, refugees will almost certainly be declined.

Which lenders will accept these applications?

There are quite a few lenders who will accept visa applicants, including high street names, such as:

• Santander: Accepts tier 2 mortgage applications, provided the property is for the applicant’s use.
• NatWest: Maximum LTV is 75%. However, for those seeking a mortgage on a spouse visa – where one applicant has a permanent right to remain – the LTV can increase to 95%.
• Halifax: Applicants without permanent right to remain must have been in the UK for at least five years, be seeking an LTV below 75%, or earn more than £100,000.
• Barclays: There is a higher LTV limit than the norm for visa mortgages, up to 90%.

This is just a snapshot of the criteria imposed by mortgage lenders; remember that your choices will be more limited if you don’t have indefinite leave to remain.

Please note that lenders’ mortgage terms and criteria can be subject to change. The best way to keep track of the terms and conditions available at any given time is to speak to a mortgage broker.

Speak to a broker who specialises in mortgages for visa holders

Sure, you fit the criteria and are ready to start the process. Then, you’ll need to find the broker to suit, which is where we come in. Not all advisors have the necessary experience in visa mortgages to help you secure the finance you need, but our unique broker matching service takes away that risk – tell us a few details. We’ll match you with the ideal broker to ensure you’ve got expert advice.

It’s free, there’s no obligation, and it couldn’t be easier to get started – just call us on 0330 818 7026 or make an enquiry, and we’ll do the rest.