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 / Tier 1 Visa mortgage lenders in the UK

by Payam Azadi

Tier 1 Visa mortgage lenders in the UK

Mortgage with Tier 1 Visa for foreign national applicants living and working in the UK

Many Tier 1 Visa mortgage applications are unfortunately declined by lenders. To make matters worse the decision is not an initial one at the start but normally way down the process simply because the Adviser did not fully appreciate the lender’s criteria around foreign national applicants.

This problem is not just isolated to the ill-informed Mortgage Broker but seems endemic to the Bank’s own frontline staff who are usually detached from the ultimate decision makers.

So hopefully by reading this article you will have a better understanding of what is required if you’re looking to get a mortgage with a Tier 1 Visa as a foreign national.

Tier 1 Visa mortgage applications date entered in the UK

The date of arrival in the UK is very important as it starts the clock in relation to your credit profile. This date often needs to be at least 2 ½ years before application however there are exceptions.

Tier 1 Visa mortgage applications date you started your work

This is another significant milestone as it proves that you are no looker a tourist on an extended vacation but have the desire to settle down in the UK and start a life here. It also assures the lender that you are going to pay UK tax. The period of work can be much shorter than 2 ½ years mentioned above depending on the lender.

Tier 1 Visa mortgage applications date left on your current VISA

Of the lenders active in this market most lenders prefer to see 1 year left to run. We do however have options on a shorter time scale particularly if you have been in the UK for 2 years.

Tier 1 Visa mortgage applications salary and affordability

To be honest I don’t see much of a problem with foreign nationals on this point because many of them are actually well played working for multinational companies or IT institutions. Tier 1 of course by definition is a sign of excellence.

Tier 1 Visa mortgage applications deposits

As I said the majority of foreign nationals working here on a Tier 1 Visa have got good salaries but often their Achilles heel is often the lack of a large enough deposit. Fear not we have access to lenders that only require 10% deposit for foreign nationals here on a Tier 1 Visa and a Tier 2 Visa.

Another major issue that I come across is the fact that the majority of the money could lie within an international account and expertise is needed to properly demonstrate not only affordability but also origination of funds. We have template documentation in place to help the applicant’s thoroughly demonstrate these points to lenders.

Fees and pricing for Tier 1 Visa mortgage applications

When it comes to product fees I generally try to keep things down so I got access to exclusive products that do not have any lender fee or valuation fees saving the applicant quite a lot of money upfront.

In terms of what we charge for foreign national mortgages for Visa applicants it is generally half a percent of the loan amount paid only on completion of the mortgage, this means you do not pay us a penny until you have bought your place and have completed on the deal. This point is very important because a lot can go wrong throughout the mortgage chain.

The reason we have put this structure in place is because we confident we will get a positive outcome for you.

I am Payam Azadi and will be delighted to speak to you an answer your questions in detail about Tier 1 Visa mortgage applications. My phone number is (020) 7993 2044 or alternatively complete the enquiry form on the right-hand side of this page and I will personally come back to you.

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

View Payam Azadi's profile on LinkedIn
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

Proud to be sponsors

Watch our video on Getting the maximum mortgage

https://www.youtube.com/watch?v=ywIi32kxUPQ
visa mortgages

Contact Us

Our Fees

Why Niche Advice

Mortgage Deals

Tools / Calculators

Latest News / Blog

Payam Azadi

10% deposit Mortgage for Foreign Nationals with a Visa December 2020

After an absence of several months 10% deposit mortgage offering for foreign nationals on a Visa has returned. Judging from our experience the demand for this innovation is very high. The lender is currently limiting access to first time … [Read More...]

Buy To Let Foreign Nationals Tier 1 Tier 2 Visa

Mortgages for EU Nationals now Brexit has taken place.

Buying a UK home with a Mortgage as a refugee

Mortgage guide for foreign nationals on visas

Buy to Let Mortgage On A Visa

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}