Is it possible to get a mortgage as a foreign national?
For an individual looking to purchase a residential property in the UK it can be quite time consuming having to provide numerous documents to evidence your UK credit status and residency along with a plethora of other requirements. However, those that aren’t looking for a residence but want to purely invest in the UK property market, it couldn’t be much easier.
Foreign national buy to let mortgages
Many challenger banks and privately funded lenders offer buy to let / investment mortgages to foreign nationals. Whether they have an existing UK credit footprint or don’t have one at all.
Whilst the interest rates on these products are higher than your conventional buy to let mortgages that a high street lender could offer, it does allow for foreign nationals to get into the UK’s property market and start building a credit footprint.
Investing in the UK property market
The UK’s property market has seen years of growth. Most recently during the COVID-19 pandemic. Whilst values have started to decline over the past few months, the UK’s market is bound to make a strong return in the future. With relatively low interest rates (compared to other parts of the world) and a steady economy investing in the UK’s property market has always been popular.
We work with foreign nationals from all over the world – USA, India, Dubai, Denmark and more.
Where should I purchase a buy to let in the UK?
There is no real answer to this, every investor should compare property values across the UK. Many investors want a property in London, it is the heart of the UK and average property values are 70% higher than the rest of the UK, but that doesn’t mean it is the best for investors.
Growing cities like Nottingham, Liverpool, Leeds and Birmingham are all great places for investors start looking.
Why choose Veracity Financial Planning?
Veracity Financial Planning are expert independent financial advisers. We understand our clients’ unique circumstances and find bespoke solutions to arrange the best deals on the market.
We have a network of over 500 lenders, ranging from high street lenders, challenger banks and private lenders.
All our advisers are experienced in their field and have the relevant qualifications to provide our clients with an extra layer of trust.