Foreign National Mortgages in Manchester
Over the last few centuries, people have come from all over the world to make the spirited city of Manchester their home, resulting in a truly multicultural and international city. Over 200 languages are spoken in Manchester, which welcomes over 40,000 students a year from 160 countries, and by size and population Manchester is England's second largest city.
Whether you want to put down roots in your adopted home of Manchester, explore opportunities in Manchester investment properties, or buy a second home, our advisors can help you secure a mortgage as a Foreign National in a simple and straightforward fashion.
Applying for a Foreign National Mortgage (which are mortgages designed for Foreign Nationals living in the UK) is often complicated. We can offer advice and guidance, and assist in arranging Foreign National Mortgages, in Manchester and across the UK. Our extensive experience and excellent customer service ensures will minimise stress and improve your chances of success.
Our role is to remove the impediments for Foreign Nationals seeking a Foreign Nation Mortgage, using our experience and expertise to create cases for Foreign National Mortgages that lenders approve.
Finding a lender who arranges Foreign National Mortgages in Manchester
As always with non-standard mortgage requirements, by far the best way to find a suitable choice of mortgages is by going through an independent adviser.
Being independent, we have access to the whole mortgage marketplace, including mortgages that are only offered through brokers where often the best deals can be found.
We can help you buy property in Manchester with the right Foreign National Mortgage for you, and we are also happy to assist in any financial planning relating to your mortgage application that you may require.
The choices available to you will depend on:
- Whether you are an EU National
- How long you have lived and worked in the UK
G Force Mortgages Ltd offers competitively priced mortgage rates to Foreign Nationals, and if you have a work visa and good credit score with a 25% deposit, we may be able to help you get a mortgage after 6 months of being in the UK.
EU Foreign Nationals getting a mortgage
If you are an EU Foreign National, you should have a traceable credit history and you will potentially be able to get a regular UK residential mortgage, without any extra costs.
There are three requirements for this:
- You have been resident in the UK for more than 2 years
- You have a UK bank account
- You have a permanent job in the UK
Non-EU Foreign Nationals getting a mortgage
It can be more challenging to secure a mortgage if you are a non-EU citizen. The most significant barrier will be that, as you are not a EU national, your credit history will not be traceable to UK lenders.
In order to build a positive credit footprint for your mortgage, the basic requirements you will have to meet are:
- Resident in UK for more than 2 years
- Have a permanent job in the UK
- Have permanent residence rights in the UK, or a UK Work Permit
- Hold a UK bank account
- The requirement to have lived in the UK for two years is due to the necessity of building up a UK credit history before lenders can approve your mortgage application
With a significant deposit of 25%+ we may be able to arrange a non status mortgage before you have sufficiently built up your credit history.
Why buy in Manchester as a Foreign National?
In terms of culture, housing stock, history, cuisine and entertainment, Manchester truly has it all. In the last few years, Manchester has developed into a highly desirable location - offering opportunities that may be stymied by high rents in London, while still boasting all the advantages of a large, modern city.
Settled since Roman times, Manchester grew significantly in the Industrial Revolution due to the booming cotton industry, later becoming instrumental in the fight for worker's rights. Today, Manchester's mills and canals are a key part of the character, with many benefiting from significant restoration that's been taking place since the late 1990s.
The exciting development of Airport City Manchester and HS2 train line has set Manchester on the path of becoming a major transport hub, making London just over an hour away.
Some facts about the property in Manchester include:
- According to Zoopla, the average price in January 2021 for a house in Manchester is £201,402.
- The architecture of Manchester is relatively modern but emcompasses a rich diversity of styles, such as Palazzo, Neo-Gothic, Edwardian baroque, Art Deco and the Neo-Classical.
- Manchester features many impressive former warehouses that have been converted for residential use.
G Force Mortgages Ltd are authorised and regulated by the Financial Conduct Authority and are Independent Mortgage Specialists. We have the ability to search the whole UK market, including deals that you will not find on the high-street. Let us help you find a foreign national mortgage that meets your needs.