Skilled Worker Visa Mortgage
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Skilled Worker Visa Mortgage (Part 1)
Michal Iwinski is here to explain how the mortgage process works if you have a skilled worker visa. Episode one of two, recorded in January 2025.
Podcast approved by The Openwork Partnership on 09/02/2025.
Can I get a mortgage in the UK on a skilled worker visa?
The simple answer is of course, yes.
What are the eligibility requirements for getting a mortgage on a skilled worker visa?
There are no specific requirements, but you will need to provide the documents that prove your immigration status. In many cases you might also require a larger deposit, compared with UK citizens applying for a mortgage.
What maximum loan amount can be obtained for a mortgage on a skilled worker visa?
There isn’t a specific maximum loan for borrowers on a skilled visa – it’s subject to affordability like any residential mortgage. It obviously depends on your income, and in most cases you can expect to be able to borrow up to a maximum of 5.5 times your earnings, especially if you’re a professional like a doctor or nurse.
Are there any age restrictions for getting a mortgage on a skilled worker visa?
There are no age restrictions. It’s treated exactly the same as a typical mortgage.
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Do I need a job offer from a UK employer to apply for a mortgage on a skilled worker visa?
This can vary case by case. Where there’s a low Loan to Value, with high income and the deposit comes from a trusted source, it could be possible. Generally speaking, the rule of thumb is the borrower needs to have been employed for at least a year.
Are there any restrictions on the type of job or industry that qualifies for the skilled worker visa?
Another simple answer – no.
What documents are required to apply for a mortgage on a skilled worker visa?
We would require the usual documents – payslips, ID, bank statements, that sort of thing. Lenders may also insist on seeing proof of your contract with the employer.
What if I have bad credit? Can I still apply for a mortgage on a skilled worker visa?
It’s exactly the same situation as with UK residents applying for a mortgage. We have lenders on our panel that will consider borrowers with adverse credit. It just comes down to how severe, so we will need more details. Generally, the poorer the credit file, the higher the mortgage rates will be.
What else do we need to know before we come back with part two?
We’ve touched on skilled visas, but we do obtain finance for many other different situations. It’s not just the typical situations for customers living in the UK, so it’s always worth speaking to us.
We’ll talk to our panel of lenders or other brokers that we work with for specialist lenders. Feel free to come to us and we can have a look.
Approved by The Openwork Partnership on 09/02/2025
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.