Getting a mortgage if you have a Tier 2 or skilled worker visa

How do I get a Tier 2 or skilled worker mortgage?

Getting a mortgage on a Tier 2 or skilled worker or skilled worker visa isn’t that different to any other mortgage application. Lenders will assess your income, expenses, savings and credit history to determine how much you can comfortably afford to borrow. What sets your mortgage application apart from standard mortgage applications is that lenders will also consider how long you’ve been a resident in the UK and how long is left on your visa.

You’ll usually need to provide the following information and documents as part of your application:

• Proof of ID and residency, such as your passport and residency card or visa
• Proof of name and address, such as recent bank statements, council tax statements, utility bills 
• Proof of income, such as payslips from the last 3 to 6 months
• Proof of expenses, such as bank statements showing your typical spending and financial obligations, including credit card payments, personal loan payments and any other debts

Lenders will want to know how well you’ve managed debt in the past. If you have a credit record with the UK’s main credit referencing agencies (Experian, Equifax, and TransUnion) this can make the process a lot easier. 

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Can I get a mortgage if my visa is about to run out?

Yes, it is possible to get a mortgage even if your visa is about to run out, but you’ll usually need at least 12 months remaining. If you have less than this, there may be fewer mortgages for you to choose from, but that doesn’t make it impossible to buy a home in the UK. You may also find that your mortgage is more expensive, due to less competitive interest rates. To reduce the risk, some lenders will also expect you to have a bigger deposit of around 25% or more. 

Can I get a mortgage if I’ve not been working in the UK for long?

Yes, some specialist lenders will consider applications from people who’ve only been in the UK for a short period, but you’ll usually find it easier to get a mortgage if you’ve been a resident of the UK for at least two to three years. If you’ve lived here for less than this, having a UK bank account and a good credit history can help. 
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Can I get a mortgage without a Tier 2 or skilled worker visa?

Yes it is possible to get a mortgage as a foreign national even if you don’t have a Tier 2 or skilled worker visa. Many lenders will consider other types of visa instead, so don’t let your visa type put you off applying for a mortgage. Whatever your situation, the best thing you can do is speak to a mortgage broker. They’ll know which lenders are most likely to accept your application, and what you can do to increase your affordability. 

Learn more: What are the mortgage visa requirements in the UK?

Can you get a Buy to Let mortgage as a Tier 2 or skilled worker visa holder?

While it is possible to get a Buy to Let mortgage on a Tier 2 or skilled worker, you’ll usually face stricter lending criteria than you would if you were applying for a standard residential mortgage in the UK. But some lenders are more lenient than others. You’ll also usually need a larger deposit of 25%, for example, but having a larger deposit saved up will also open up more lenders and mortgages to choose from as you’re putting down a significant amount, which lenders see as lower risk to them.

Learn more: What is mortgage affordability?