First-Time Buyer Mortgage for Foreign Nationals – Deposits, Visa Criteria & Tips
Buying your first home is a huge moment — but if you’re a foreign national or visa holder, you might be wondering if it’s even possible. We get asked all the time, “Can I get a mortgage without ILR?” or “How much deposit do I need as a first-time buyer on a visa?”
Here’s the good news: yes, you can absolutely get a mortgage as a foreign national first-time buyer. Sometimes you can even do it with just a 5% deposit.
At Mortgage Wala, this is exactly what we do — helping visa holders, Skilled Worker professionals, and international families buy their first home. Let’s go through the questions we get asked most often and give you clear, straightforward answers.
Can Foreign Nationals Get a Mortgage as First-Time Buyers?
Yes — you can get a mortgage as a foreign national first-time buyer.
Lenders look at a few main things:
- Your visa type and how much time is left before renewal
- Your credit history (even if you don’t have much)
- Your deposit size — a 5–10% deposit is usually the starting point
- Your income and job stability
With the right preparation, getting approved is 100% possible.
What Visa Types Do Lenders Accept for Mortgages?
Most of the clients we work with are on:
- Skilled Worker visas (Tier 2)
- Spouse or Partner visas
- Family visas
- Graduate or Post-Study Work visas
- Ancestry visas
- Indefinite Leave to Remain (ILR)
And yes — some lenders will even consider Student visa mortgages, especially if you have a guarantor or a bigger deposit.
How Much Time Do You Need Left on Your Visa to Get a Mortgage?
We get this question all the time: “Can I get a mortgage with 6 months left on my visa?”
For most lenders, the answer is yes — as long as you can show a strong income and deposit.
- Many want 6–12 months left before expiry
- Some will lend if you can show your renewal is in progress
- A few specialist lenders don’t even have a minimum time-in-country rule
What Deposit Do You Need as a Foreign National?
Your deposit is one of the biggest factors in how many lenders will consider you — and what interest rate you’ll get.
| Your Situation | Deposit Needed |
|---|---|
| Good credit, stable employment | 5–10% |
| Limited credit history | 10–15% |
| Past defaults or CCJs | 15%+ |
| Buy-to-let purchase | 25%+ |
So yes — a 5% deposit mortgage for visa holders is possible. If you’ve had adverse credit, expect to need a bit more (around 10–15%).
What Does Loan-to-Value (LTV) Mean for You?
Your loan-to-value (LTV) is just the percentage of the property price you’re borrowing.
Example:
- Property price: £250,000
- Deposit: £25,000
- Your LTV: 90%
Lower LTV means better rates. If you can get to a 10%+ deposit, you’ll usually have more lenders to choose from and lower repayments.
What Documents Do You Need for a Mortgage Application?
To keep the process smooth, have these ready:
- Passport and visa (or BRP card)
- Proof of address (like a utility bill or bank statement)
- Payslips for the last 3 months (or self-employed accounts)
- 3–6 months of bank statements
- Proof of where your deposit is coming from
- Employment contract (if you’ve recently started a new job)
We always tell our clients: the more organised your documents are, the faster we can get you approved.
Can You Get a Mortgage With No Credit History?
Yes — some of our favourite lenders will still consider you even if you’re new to the country and haven’t built up a file yet.
That said, you can make yourself more appealing by:
- Getting on the electoral roll (if you can)
- Opening a local bank account and using it
- Taking out a low-limit credit card and paying it off in full
- Avoiding missed payments or payday loans
And if you’ve had defaults or CCJs? We work with lenders who offer bad credit mortgages for visa holders too — you’ll just need a slightly bigger deposit.
Can You Use a Gifted Deposit from Overseas?
Yes — we deal with gifted deposits all the time. Lenders are usually fine with it if:
- It’s from a close family member
- It’s a gift, not a loan
- You have a signed gifted deposit letter
- You can show where the money came from
If it’s coming from overseas, be ready to show bank statements proving the funds.
What Income Do You Need to Get a Mortgage?
Lenders mainly want to know you can afford the monthly payments.
- Employed: They look at your basic salary and sometimes bonuses or overtime
- Contractors: They’ll annualise your day rate
- Self-employed: Most want to see an average of the last 2 years’ net profit, though some will accept 1 year
Don’t panic if you’re on a fixed-term contract — we have lenders who are fine with that, especially if you work in healthcare, IT, or education.
Can Foreign Nationals Use First-Time Buyer Schemes?
Yes — in most cases you can access the same schemes as other buyers, like:
- Shared Ownership: Buy a share and rent the rest
- First Homes Scheme: Buy at a discounted price
- Developer Incentives: Some new-build developers will contribute to your deposit or fees
We’ll tell you which ones you qualify for and whether they’re a good fit for your situation.
What Are the Steps to Buying Your First Home on a Visa?
Here’s how we guide our clients through the process:
- Chat with us early. We’ll confirm you’re eligible and how much you can borrow.
- Save your deposit. The more you can put down, the better your deal.
- Gather your documents. This makes everything faster.
- Get a mortgage in principle. Shows sellers you’re serious.
- Make your offer. Once it’s accepted, we submit the full application.
- Valuation & underwriting. The lender checks the property and your profile.
- Mortgage offer. This is your green light to move forward.
- Exchange & completion. Your solicitor handles the legals until the keys are yours.
Real Client Story: Skilled Worker Visa Success
One of our clients had only been living here for 14 months on a Skilled Worker visa. They had a 10% deposit, a good job, and no local credit history.
We matched them with a lender who accepted just 12 months’ residence and offered a competitive 5-year fixed rate. Three months later, they had the keys to their very first home.
Final Thoughts: Is It Hard to Get a Mortgage as a Foreign National?
Not at all — it just takes a bit of planning. Knowing which lenders to approach, what documents you need, and how to present your case makes all the difference.
At Mortgage Wala, we’ll guide you through every step — from your first chat to getting your keys. Whether you’ve got 6 months left on your visa, need a bad credit mortgage, or want to use a gifted deposit, we’ve got you covered.
📞 Let’s Make Your First Home Happen
We help foreign nationals secure their first mortgage — even if you’re new to the country or building your credit file.
🗓️ Book your free consultation today and take the next step.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.