Mortgage on a Visa

Hello everyone,

We moved to the UK like 8-9 months ago and currently willing to buy a house but we're unable to get a mortgage being a non UK national. Our visas expire end of 2024 so we currently have over 2 years visa left. We're willing to put in a 15% deposit and our combined salary is roughly around £65k per annum.

Do you think we can get a mortgage in current circumstances?

If yes, can you recommend any mortgage advisors who can help us?

Any replies would be appreciated.

Thank you

Hello,

Google "mortgage adviser" or "mortgage broker" and give them a call to ask.

Last time I checked with 2 highstreet banks, I was told they need to see a permanent residence at least.

I know people with mortgage on permanent residence but not on a definite leave/visa.

The mortgage is a long term contract. Typically, it's in the region of 20/25 years. They need to ensure you are able to earn your money in the UK during that time.

But double check with an adviser they may have a more up to date information.

There is no legal restriction on UK banks/financial institutions giving loans/mortgages to people on a limited visa.

But banks and other institutions will take into account the reason that @Zerubbabel has mentioned above, that mortgages are long term contracts while your visa length is very short term (measured in months, not years). Hence I think it is highly unlikely that you will get a mortgage from UK financial institutions.

I believe (I could be wrong) that some banks on the Subcontinent provide loans to citizens of their countries resident abroad. It may be worth looking at getting a mortgage from such banks, though I am not aware if they require permanent residency or a mere short term visa would do.

Keep in mind that visa policies are likely to change over the medium to long term anyway, for political and economic reasons and it would make more sense to rent in the short-term anyway, until at least one of you has ILR/permanent residency.