Can You Get a Mortgage on a Tier 2 Visa?

Yes, it is possible to get a mortgage in the UK while on a Tier 2 visa, but it can be more challenging compared to obtaining a mortgage as a UK citizen or permanent resident. 

It's a plus point that your partner has been in the UK for 3 years, as this means that there should be a credit history for lenders to check against, but without knowing more about your overall financial situation we can't say anything more definite. 

It would be useful to know his income, occupation, and UK financial history as these factors will help to determine how best we can help you. We'll most likely be talking to a lender who will look at the case on its individual merits, rather than a computer-based model, these type of lenders tend to have less underwriting flexibility. 

You will find that each lender has their own requirements when it comes to assessing whether they will be happy to consider you.  For example, one high street lender is happy to consider an mortgage application on standard criteria if one of the joint applicant’s has permanent rights to reside in the UK, whereas another maybe be happy to consider a loan of up to 90% of the value of your property with no minimum time in the UK. 

It is certainly true that to have the biggest choice of lenders open to you it would be beneficial to have at least a 25% deposit, with a lesser deposit there may less lender choice and those that may consider an application such as yours could have less competitive products available to you. 

Here are some key points to consider: 

1. Eligibility criteria - lenders typically have specific eligibility criteria for borrowers, including residency status. Some lenders may accept applications from individuals on Tier 2 visas, while others may have stricter requirements  
2. Length of visa - lenders may consider the remaining duration of your Tier 2 visa when assessing your mortgage application. Some lenders may require that your visa has a certain length of time remaining, typically at least 12 months or more  
3. Income and affordability - lenders will assess your income and affordability to determine whether you can afford the mortgage repayments. This includes considering your salary, employment stability, and any other sources of income. Some lenders may require a higher deposit or proof of savings to demonstrate financial stability  
4. Credit history - lenders will also review your credit history as part of the mortgage application process. Having a good credit score and a history of responsible financial behaviour can improve your chances of being approved for a mortgage  
5. Employment stability - lenders may prefer applicants who have a stable employment history, especially if you're on a fixed-term contract or your visa has restrictions on the type of work you can undertake  
6. Specialist lenders - some lenders specialise in providing mortgages to individuals with non-standard circumstances, including those on Tier 2 visas. These lenders may have more flexible criteria and be more willing to consider your application  
7. Professional advice - it's advisable to seek a mortgage broker like John Charcol who has experience working with individuals on Tier 2 visas. We can help you navigate the mortgage application process, identify suitable lenders, and provide guidance tailored to your specific situation  

Overall, while obtaining a mortgage on a Tier 2 visa may present some challenges, it is possible with careful planning, thorough documentation, and the right approach. Working with experienced professionals can help increase your chances of success in securing a mortgage in the UK. 

The next step would be to discuss your enquiry in more detail by calling us on 0330 433 2927.