Foreign Nationals without indefinite leave to remain
We can consider foreign nationals without indefinite leave to remain where they hold an eligible work visa and have a minimum of 12 months’ employment history.
We can also consider applicants on a spousal visa as part of a joint application.
Applicants on a skilled worker visa or health and care worker visa must be in permanent employment.
The maximum LTV is 95%
We’ll allow additional borrowing, subject to meeting our lending criteria at the time of the new application.
We require a three-year address history for all applicants. For foreign nationals, we don’t set a minimum residency period in the UK, however we do require a minimum of one year’s employment history. We can also consider returning UK expatriates who have been back in the UK for at least six months, provided they have been away for no more than two years.
We can accept applications where documents have been certified by a suitable third party.
We accept applications from advisers applying for their own mortgage.
We calculate affordability based on the property’s rental yield. Full details of our ICR calculation can be found using our Holiday Let Calculator.
We can consider applicants intending to let their property through Airbnb, provided the whole property is rented out and suitable insurance is in place.
We won’t consider applicants that have an “arrangement to pay” registered on their credit file.
We can potentially accept applicants with up to one month’s mortgage or secured loan arrears in the past 12 months and up to a maximum of two months in the past three years. The account must be up to date at the time of application.
We will consider arrears on unsecured credit with a maximum of 2 months arrears in the last 2 years. The account must be up to date at the time of application.
Our Holiday Let mortgages are designed for short-term letting. Assured Shorthold Tenancies (ASTs) aren’t permitted.
We’ll consider this income as part of our affordability assessment. We’ll also consider how sustainable the income is over the mortgage term.