"The changes we’ve made will help meet the needs of customers that have a different set of requirements because of their country of origin."
- Franco Di Pietro, head of intermediary mortgages at Newcastle BS
Newcastle for Intermediaries has updated its lending policy for non-EEA customers with either skilled worker or health and care visas.
The Society has reduced the visa validity requirement from two years to just three months in order to streamline the mortgage application process for borrowers who have moved to the UK from outside the European Economic Area (EEA).
Amongst the changes for non-EEA customers with either skilled worker visas or health and care visas are shorter residency requirements, meaning people are able to apply for a mortgage after a minimum of two years in the UK.
The lender has also reduced the time that is required to remain on the visa from two years to just three months meaning applicants no longer need a full two years to be eligible.
The requirement for six months of bank statements has now also been removed subject to satisfactory residency checks to help accelerate the mortgage application process.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re always striving to maintain a competitive lending proposition and our latest criteria changes for non-EEA applicants reflect this commitment. The changes we’ve made will help meet the needs of customers that have a different set of requirements because of their country of origin. They provide brokers with a greater number of options and flexibility when sourcing the right products for clients.”
