Ancestral Visa

Posted on 24 February 2016 by Karen

I have lived in the UK for over five years under a UK ancestry visa. Do I need to become a permanent resident to apply for a mortgage?

Hi Karen

It is not necessary to apply for 'indefinite leave to remain' in order to qualify for a mortgage.

However, you will find that each lender has their own requirements when it comes to assessing whether or not they will be happy to consider you.  For example, one high street lender will want to see that you have 4 years continuous employment and will restrict the maximum amount who can borrow to 75% of the property value, whereas another will be happy to lend up to 90% of the value if you have been in the UK for just 1 year.

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers. Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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