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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Foreign nationals

Permanent rights to reside

Applicants who are not from the UK or Ireland will need to provide evidence of their permanent rights to reside in the UK (or pre-settled status via the EU settlement scheme) with one of the following documents:

  • A ‘share code’ confirming the applicants Right to Reside. A Right to Work code will not be accepted. For more information, please see gov.uk/view-prove-immigration-status
  • Residency stamp in the passport. Alongside the photo page of the passport. If the stamp is in an expired passport, please include the photo page of the valid passport.

The document (from the above list) must confirm one of the following and not exceed the visa ‘valid until’ date:

  • Indefinite Leave to Remain
  • Indefinite/Right of Abode
  • Permanent Residence
  • No Time Limit
  • Settled/Settlement
  • Pre-settled/Pre-settlement

Temporary rights to reside

Applicants who are not from the UK or Ireland and do not have permanent rights to reside in the UK (or pre-settled status via the EU settlement scheme) can be considered where they currently reside in the UK and meet the following criteria:

  • They must have lived within the UK for a minimum of 12 months
  • Minimum of 18 months remaining on their visa

The applicant must hold one of the following VISAs:

  • Skilled Worker visa / Skilled Worker route
  • Family visa / Dependant visa (Partner/spouse/family member). Mortgage application must be in joint names with the person named in the Family/Dependant Visa.
  • Health and Care Worker visa
  • UK Ancestry visa
  • British National (Overseas) visa
  • Global Talent visa
  • Armed Forces

The following documents can be accepted to confirm the applicant’s right to live/work in the UK:

  • Right of Abode UK Residency stamp in the passport

Where a second applicant has restricted leave to remain in the UK, however, also has either settled or pre-settled status via the EU settlement scheme due to their marital status, standard LTV limits will apply, and we will require them to provide a valid share code. Please refer to your Business Development Manager for further guidance.

Type of application

 LTV and deposit

Standard purchase

Max LTV is 85%*

Sole applicant minimum income of £50k*** or joint applicants with combined minimum income of £75k***, with min deposit** of 15%

Otherwise, max LTV is 75%* with min deposit** of 25%
Shared Equity 

Max LTV is 85%*

Sole applicant minimum income of £50k*** or joint applicants combined minimum income of £75k***, with min deposit of 15%* (based on value of the equity share)

Otherwise, max LTV is 75%* with min deposit** of 25% (based on value of the equity share)

Shared Ownership

Max LTV is 85%*

Sole applicant minimum income of £50k*** or joint applicants combined minimum income of £75k***, with min deposit** of 15% (based on value of customer share)

Otherwise, max LTV is 75%* with min deposit** of 25% (based on value of customer share)

*This limit is only based on the loan amount
** Deposit can be Self-funded, Gift deposit, Builder/Seller - New Build Cash incentives, Concessionary, Equity, Tenants Incentive Scheme. Please refer to Deposits for more information.
*** Based on the gross amount used for affordability e.g. 100% of Basic Salary, 60% of Overtime.

Source of funds

  • Brokers are required to advise the customer that any funds paid into the mortgage account from sanctioned countries are not accepted.

Unacceptable Categories

Applications are not acceptable from:

  • Students
  • Persons with a working holiday visa
  • Applicants with Diplomatic immunity.

Refugees

Refugees/asylum seekers must have indefinite leave to remain (also known as permanent residence). Documentation required to verify this consists of a Biometric Residence Permit or a letter from the Immigration and Nationality Directorate (IND) advising the customer that this permission has been granted.