fbpx

Mortgage Advice Experts

Menu
  • Home
  • Videos
  • Mortgage Calculators
  • Residential
    • Mortgage Deals
    • First Time Buyer
    • Remortgage
    • Right to Buy Mortgage
    • Bad Credit Mortgage
    • Self Employed
    • High Income Multiple
    • Help To Buy Mortgage
    • Gifted Deposit
    • Foreign Nationals
    • Debt Consolidation
    • Equity Release
    • Close
  • Buy to Let
    • Buy to Let Mortgage Deals
    • Buy to Let Tips
    • BTL 80% Loan to value
    • Buy to let Remortgage
    • Let to Buy
    • HMOs
    • Buy to Let with Bad Credit
    • Limited Company
    • Portfolios
    • Holiday Lets
    • Ex Pats
    • Rent to Family Memeber
    • DSS Tenants
    • Into Retirement
    • Foreign Nationals
    • Inherited Property
    • Close
  • Bridging Loans
    • Commercial Mortgage Tips
    • Bridging Loans Explained
    • Why use Bridging Finance
    • Bridging Finance Rates
    • Auction Finance
    • Auction Finance Rates
    • Non Standard Commercials
    • Development Finance
    • Close
  • Protection
    • Will Writing Service
    • Probate Services
    • Close
  • Testimonials
  • About Us
    • Why Niche Advice
    • Our Fees
    • Testimonials
    • Blog
    • Join our Team
    • Privacy Notice
    • Terms and Conditions
    • Close
  • Contact Us
You are here: Home / Mortgages / Foreign National Mortgage / Help to Buy and New Buy Scheme rules for foreign nationals

by Payam Azadi

Help to Buy and New Buy Scheme rules for foreign nationals

buy to let Mortgage Broker

Mortgages criteria for foreign nationals on a Visa

Help To Buy and New Buy Mortgages
In my ongoing discussions with lenders I have been given further clarification on the position to lend to foreign nationals in regards to the Government run Help to Buy and New Buy schemes.

As it currently stands both schemes are not accepting applications from non-UK or EU residents. In other words if you are a foreign national you must have indefinite leave to stay in the UK to take advantage of the Help to Buy and New Buy schemes.

Mortgages For Applicants On VISAs
As a specialist foreign national broker in London we have access whole host of mortgages for applicants on a Visa these include first-time buyer, next time buyer and high net worth buy to let offering for applicants looking to buy in the United Kingdom.

Mortgages for foreign nationals are particularly tricky as there are many restrictions on the lenders product criteria mainly around loan to values, types of visas and source of the deposits. My experiences that many foreign nationals also look at buying new build properties which is also restricted by its own set of rules one of them being restrictions on loan to values of flats and houses.

Applicants are also subject to more stringent internal checks including background and money-laundering investigations.

One of the biggest issues for foreign nationals looking to get a mortgage is the fact that they don’t have much savings due to the lack of time spent living and working in the UK and most lenders also insist on an active UK bank account.

This is also emphasized by the fact that many of my current client lists tend to bank with large institutions such as HSBC who despite their international presence apply very strict criteria on foreign national lending. I have lost count of the times I have heard that they said “yes” initially only to backtrack weeks later after non refundable fees have been taken.

At Niche Advice we have access to the ‘whole of market’ and help visa customers obtain VISA mortgages without the fuss. To see if your VISA qualifies check out our quick reference guide to VISA mortgages below.

Quick guide to Visa Mortgages

MINIMUM DEPOSIT ORIGINATING COUNTRY RESTRICTION VISA RULES FOR MORTGAGES
10% deposit Any originating country Minimum 1 paying UK tax Minimum of 2 years left to run
15% deposit Any originating country Minimum 3.5 paying UK tax
No minimum to run
25% deposit Any originating country No minimum paying UK tax
No minimum left to run

Foreign National mortgages are a very specialist subject and we thoroughly recommend professional sought after to make sure the whole process takes place in an efficient manner.

For more information on our range of foreign national mortgages for applicants on a Visa please contact us on 0207993204 or alternatively complete our enquiry form on the right-hand side of this page.

Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.

mortgage broker fees

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

Twitter Facebook Linkedin

Filed Under: Foreign National Mortgage, Help to Buy Tagged With: foreign nationals Government Help to Buy, Help to Buy and visa, Help to Buy for foreign nationals, Help to Buy for people on a visa, Help to Buy non-UK or EU residents, Mortgages criteria for foreign nationals on a Visa, Mortgages For Applicants On VISAs, New Buy for foreign nationals, VISA mortgages

Contact Us

Our Fees

Why Niche Advice

Mortgage Deals

Tools / Calculators

Latest News / Blog

Free Credit Report from checkmyfile

Try it FREE for 30 days, then £14.99 a month - cancel anytime
no upfront broker fees
AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

Our Fees

Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

Terms and Conditions

If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

Site Terms and Conditions
Customer Privacy Notice

niche youtube

CONTACT NICHE ADVICE
Tel: 020 7993 2044

Registered Office: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033.

Members of The Financial Intermediary & Broker Association - Number SBS36389

logo

© 2022 · Niche Advice Limited · Site Designed by Niche Advice Design Team

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}