Can I get a mortgage on a Tier 2 Visa?
Yes, is the short answer. There are UK mortgage lenders who will consider a mortgage application on a Tier 2 Visa.
What is the lender criteria for a Tier 2 Visa mortgage?
Lender criteria does vary, depending on the length of time you have spent in the UK and the length of time left on the Visa.
- Some lenders will cap their maximum Loan to Value (LTV) to 75% LTV regardless of time spent in the UK.
- Mortgage lenders require at least 2 years remaining on a Visa in most cases.
- Where a Visa has less than 3 years remaining, some mortgage lenders require your employer to confirm that they have applied (or intend to apply) for the permit to be renewed.
- Applicants must not enjoy diplomatic immunity.
- Minimum income requirements may apply and some lenders will also require that you take out a Capital Repayment mortgage (not Interest Only).
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Author: Ben, Glow Mortgage Advisor (CeMAP, BSc Hons)
Date Published: 2nd July 2018.