Where the applicant is a Foreign National, the applicant must be a UK resident who is entitled to live and work in the UK.
We define UK Residency as an individual who is registered for, and pays, UK tax and has either:
- UK citizenship
- EU settled or pre-settled status
- Indefinite Leave to Remain
- UK Spousal visa (5 or 10 year route), where applying in joint names and where at least one borrower on the application has permanent right to reside in the UK
All Foreign Nationals are required to have a minimum of 3 years’ address and credit history within the UK and have current active UK credit.
Where applicants do not meet the above requirements, e.g. have not been in the UK for 3 years or where they have entered on a visa, the following criteria will be applied:
- At least one customer on the application must have permanent right to reside in the UK as defined above
- Applicant's credit profile must evidence 2 years residence in the UK.
- Loan to Value (LTV) must be up or equal to 80%
- The combined income on the application is at least £100,000. As this is the combined income of all applicants, it does not need to be the income of the applicant who does not have permanent right to reside.
The applicant must have one of the following Visas:
- Skilled Worker (previously known as Tier 2)
- Health & Care Worker
- Senior or Specialist Worker
- International Sportsperson
- Ancestry Visa
- Spousal Visa (5 or 10 route), where applying in joint names
Leave to remain in the UK and all visas outlined above must be evidenced by a stamp in the Customer’s passport or Biometric Residence Permit showing indefinite rights to remain. This includes “indefinite leave to remain”, “indefinite leave to enter” or “no time limit”.
Where an applicant has EU Settled or Pre-Settled status, we will require the applicant's immigration status online gov.uk share code. The code provided lasts for 30 days and enables us to view their immigration status.
Where any of the above documentation cannot be provided, we may require a Home Office letter to verify the applicant's current residential status.
No exceptions to the above documentation are permitted.