As a non-citizen, getting a mortgage in the UK can be challenging, but it’s possible.
This guide will provide all the information you need about securing a UK mortgage as a foreign national.
Factors to Consider
When Purchasing a Property in the UK
Before you apply for a mortgage, there are several factors to consider, including:
Other things you’ll need to bear in mind are:
- The length of the mortgage term
- The amount of deposit or equity you’ll require, and
- How you intend to repay the mortgage
These will all be considerations you’ll need to factor in.
How Much Deposit Do You Need to Purchase a Property in the UK as a Non-Resident?
Stamp Duty land tax as a non resident
When purchasing property as a non-resident of the UK there may be additional stamp duty to pay in addition to the standard tariffs. This is 2% of the purchase price in addition to the standard payment. Use our stamp duty calculator to work out the amount of stamp duty payable.
Factors to Consider When Purchasing a Property in Another Country
Using a Mortgage Broker for UK mortgage for non citizens
Applying Directly to a Bank for a Non-Resident Mortgage
Depending on your nationality and financial situation, you may be able to apply for a mortgage directly from a bank or lender. However, lenders have different lending criteria for non-citizens, which may require more time and effort to find a suitable product. We suggest that you get professional advice before making any decisions.
Securing a UK mortgage as a non-citizen may seem daunting. Still, it’s a manageable process with the correct information and assistance. Contact Advias today for expert advice and assistance securing a UK mortgage as a foreign national.
If this guide was helpful and you’d like to understand your options for a UK Mortgage as a Non-Citizen better, then:
We’d love to assist you further.