"Since leaving the European Union, all foreign nationals looking to live and work in the United Kingdom must have successfully applied for a visa and we’re delighted to be able to help these individuals purchase a home."
- Kathy Bowes, intermediary manager at The Cambridge
The Cambridge Building Society will now consider mortgage applications from foreign nationals on either a skilled worker visa (Tier 2), global talent visa (Tier 1) or health and care worker visa, up to 80% LTV.
Applicants must have been a resident in England or Wales for the last two years and have a 20% deposit from their own sources.
For applications in joint names, where one applicant holds permanent right to reside in the UK, the maximum LTV increases to 95%.
According to the Home Office, in the year ending June 2023, there were around 321,000 grants to main applicants on all work visas, 45% higher than in the previous year and almost two and a half times the number in the year ending June 2019.
Kathy Bowes, intermediary manager at The Cambridge, said: “Since leaving the European Union, all foreign nationals looking to live and work in the United Kingdom must have successfully applied for a visa and we’re delighted to be able to help these individuals purchase a home.”
