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Foreign National Mortgages
If you are not a UK citizen, it is still possible for you to get a mortgage in the UK. Buying a property in the UK can be an attractive option for non-UK citizens for many reasons; perhaps you have a family link to the UK, want to move over here, or just want to invest in the property market. For many lenders this falls outside criteria, but with the right approach obtaining a suitable mortgage can be achieved.
At Pinnacle, we have strong relationships with banks, building societies as well as niche lenders, who can offer mortgage loans to clients in many jurisdictions and of many nationalities.
How to get a mortgage as a foreign national
There are a couple of things you can do to help improve your chances, you can open a UK bank account and it being active. If you have a permanent job in the United Kingdom this also looks very attractive to lenders.
Some mortgage lenders also accept mortgages paid with overseas income or in foreign currency. Pinnacle have a team dedicated to the specialist mortgages to help individuals get a mortgage at a great rate no matter what their circumstances are.
Let’s discuss your mortgage options
Can I get a mortgage if I am self-employed in another country earning a different currency?
This is a very challenging scenario. A lender will see a self-employed individual as a riskier case from the get-go compared to full time employed individuals with a 9-5 job, regardless of your income. Adding the factor of having a foreign residency, most lenders will find it challenging to lend to you.
Pinnacle work with many self-employed clients as well as foreign nationals and we have strong relationships with banks, building societies and lenders to give your current situation in a different light and have the opportunity to present that you will not be a risk.
Can I get a joint mortgage with a non-UK resident?
It is possible for a UK citizen to obtain a joint mortgage with a foreign national, but once again, this will make the process complex, and the same questions will be asked by the lender to make sure the risk for them isn’t too high.
Being a foreign national they will want to check where your income is coming from, where you are currently living and if you have plans to live at the property and where you are looking to purchase your home.
As a joint application it does make it slightly easier with a UK Citizen thank doing the mortgage application by yourself as a foreign national. If you’re earning and living in the UK this also helps simplify the process. At Pinnacle our team have years of experience in the specialist sector and have dealt with multiple cases helping foreign nationals get a mortgage.
Can I get a buy to let as a foreign national?
Once again, it is possible for a foreign national to get a buy to let, but again, this does come with its challenges compared to a UK citizen applying for a buy to let.
You’d need to follow the same principles in your application such as your deposit, location, your track record and your income are all contributing factors. The process of approaching a lender for a foreign national can be time consuming so we’d highly recommend speaking to one of our brokers here at Pinnacle to help you get a mortgage at the best rate possible.