London has long attracted international buyers — overseas investors, professionals relocating to the capital, British expats, and families with longer-term plans in the UK. Whether you are a foreign national living in the UK on a visa, a British expat buying from overseas, or a non-UK resident investing in London property, the mortgage process is more complex than for a standard UK buyer. This guide explains how international buyer mortgages work, what lenders look for, and what to prepare. For an overview of our London mortgage services, visit our London team.
Who Counts as an International Buyer?
Lenders distinguish between several categories, and the products and criteria available to you depend on which category you fall into:
Foreign nationals living in the UK. If you hold a valid UK visa and are employed or self-employed in the UK, some lenders may consider your application, depending on visa type, time in the UK, deposit, income, and credit profile. The exact requirements vary by lender, and a broker can identify lenders whose criteria may be better aligned with your circumstances.
Non-UK residents buying from abroad. If you live outside the UK and want to buy a property here — either as an investment or for future personal use — the choice of lenders is more limited. Deposits are higher, and some lenders restrict lending to applicants from specific countries.
British expats. UK citizens living and working abroad may be able to obtain UK mortgages, but lenders treat expat applications differently from domestic ones. Deposit requirements are higher than for UK-resident applicants, and income verification can be more involved.
Overseas investors. London’s status as a global city makes it a long-standing destination for international property investment. Overseas investors often buy through buy-to-let or, for higher-value purchases, through specialist or private bank routes. The choice of lender is more limited and deposits are higher than for UK-resident buyers.
What Lenders Look At
Visa and Residency Status
For foreign nationals in the UK, your visa type is one of the first things a lender checks. Many lenders look for a period of UK residency and a visa with sufficient remaining validity at the point of application. The exact requirements vary by lender and by visa type. Some lenders are more flexible, particularly for applicants with indefinite leave to remain or those on certain skilled worker visas. Criteria vary, and a broker can identify which lenders match your specific visa status.
Deposit
International buyers often need a larger deposit than UK residents. Deposit requirements vary significantly depending on residency status, visa type, country of residence, income structure, and lender criteria, and larger deposits are often required than for standard UK-resident applications. As an indication, for foreign nationals with UK residency, products may be available from around 10–25% deposit, depending on the lender and visa type. For non-UK residents buying from abroad, deposits of around 25–40% are common, depending on the lender, country of residence, and property type. A larger deposit reduces the lender’s risk and opens up a wider range of products and rates. These ranges are indicative only and criteria vary by lender, visa status, country of residence, currency, property type, and loan-to-value. At London prices, the deposit is a significant sum in absolute terms, which makes lender selection particularly important.
Income and Currency
If your income is earned in the UK and paid in sterling, most lenders will assess it in the same way as for any other applicant. If your income is earned abroad or paid in a foreign currency, the picture is different. Some lenders will accept foreign currency income but may apply a discount to account for exchange rate risk. The approach varies by lender, currency, and how you are paid. Not all lenders accept all currencies, and some restrict lending to applicants whose income is in major currencies. For more on how lenders assess foreign currency and other non-standard income, see our complex income guide.
Credit History
A UK credit history helps, but it is not always essential. If you have recently arrived in the UK, you may not have a UK credit footprint. Some lenders will consider your application without one, particularly if you have a strong deposit and stable employment. Where appropriate, having a UK bank account and an established UK credit profile may help some lenders assess the case.
Anti-Money Laundering and Source of Funds
All mortgage applications require proof of identity and proof of the source of funds. For international buyers, this is more involved. Lenders and solicitors will need to verify where your deposit and any gifted funds have come from. If funds are being transferred from overseas, you should expect detailed scrutiny of the source, the transfer route, and any currency conversion. Having clear, documented audit trails for your funds is essential and can avoid significant delays. This is one of the most important areas to prepare for, as gaps in the source-of-funds trail are a common cause of delay for international buyers.
Why London Attracts International Buyers
London’s appeal to international buyers reflects its position as a global financial, professional, educational, and cultural centre. Overseas professionals relocating to roles in the City and other sectors, international families with longer-term plans in the UK, expats maintaining a UK property base, and overseas investors all contribute to international demand in the capital.
Currency movements can also influence overseas demand: when sterling is weaker against a buyer’s home currency, London property can become more attractive in their own currency terms. Many international residents start by renting and then look to buy once they have established their position in the UK.
For higher-value and prime central London purchases, some international buyers use specialist lenders or private bank routes, which can offer more flexibility on complex income and large loans than mainstream lenders. These higher-value cases often involve more detailed structuring; for context on how complex income is assessed, see our London complex income guide.
Stamp Duty for International Buyers
Non-UK residents pay an additional 2% stamp duty surcharge on top of all other applicable rates when buying residential property in England. This is in addition to the standard rates and, if applicable, the 5% additional property surcharge that applies to additional dwellings such as buy-to-let and second homes.
The non-resident surcharge applies based on your residency status for SDLT purposes, which depends on time spent in the UK around the date of the transaction. Importantly, non-resident status for SDLT is not always the same as your immigration residence position. The rules are specific, and your solicitor can confirm whether the surcharge applies and whether a refund may be available if your residency status changes. SDLT residency rules are technical and should be confirmed by your solicitor before exchange. For worked examples at London price points, see our stamp duty guide.
Buy-to-Let for Non-UK Residents
Non-UK residents who want to invest in London property may be able to access buy-to-let mortgages through specialist lenders. The choice of lender is more limited than for UK-resident landlords, and deposits of around 25–40% are common. Some lenders also restrict the countries they will lend to.
Buy-to-let affordability for non-residents is assessed primarily on rental income, but lenders will also check your personal income and financial position. Some lenders also look for a minimum level of personal income alongside rental coverage, depending on the lender and structure. London’s large and diverse rental market is one of the reasons it attracts international investors. For more on buy-to-let lending in London, see our buy-to-let guide.
Practical Steps for International Buyers
Start early. International mortgage applications take longer than standard UK ones. Allow additional time for income verification, document translation if needed, and the additional checks lenders apply.
Open a UK bank account. If you are living in the UK, having an active UK bank account with a history of transactions helps demonstrate financial stability and makes the application smoother.
Prepare your deposit trail. Document the source of every part of your deposit. If funds are coming from overseas, keep records of the transfer, the exchange rate, and the source account. Gaps in the audit trail are one of the most common causes of delay for international buyers.
Use a broker. The international mortgage market is fragmented. Criteria vary significantly between lenders, and some specialist products are available via intermediaries rather than directly. A broker with experience in international buyer cases can identify lenders whose criteria may be better aligned with your circumstances before you make a formal application.
Instruct a solicitor with international experience. Conveyancing for international buyers involves additional AML checks, and your solicitor needs to be comfortable handling overseas documentation and fund transfers.
Why We Wrote This Guide
Fitch & Fitch is an independent, whole-of-market mortgage broker with offices in Canary Wharf, Cambridge, and Colchester. We are an appointed representative of JLM Mortgage Network, authorised and regulated by the Financial Conduct Authority (FCA Registration Numbers 955014 and 300629). You can verify this on the FCA Register at register.fca.org.uk.
Fitch & Fitch has received recognition from independent industry bodies including the Mortgage Strategy Awards, Mortgage Introducer Awards, and Legal & General Mortgage Club Awards. These awards are judged independently and can be verified on the respective awards websites.
We wrote this guide because we believe an informed buyer makes better decisions. For further information about our London mortgage services, visit our London hub page.
Frequently Asked Questions
Can a foreigner get a mortgage in the UK?
Yes. Foreign nationals can get UK mortgages, whether they are living in the UK on a visa or buying from abroad. The products available and the criteria applied depend on your residency status, visa type, deposit, income, and credit history. The choice of lender is more limited than for UK citizens, and deposits are often higher.
Can overseas residents buy property in the UK?
Yes. Non-UK residents can buy property in the UK and may be able to access mortgages through specialist lenders. The choice of lender is narrower than for UK residents, deposits are typically larger, and some lenders restrict lending based on country of residence. Non-residents also pay a 2% SDLT surcharge in England in addition to the standard rates.
Can I get a UK mortgage to buy a property abroad?
UK mortgage lenders generally lend against UK property, not overseas property. If you are looking to buy abroad, financing is usually arranged in the country where the property is located or through a specialist international lender. A UK mortgage secured on a UK property you already own could, in some cases, be one way to raise capital, but this depends on your circumstances and should be considered carefully.
How much deposit do I need as an international buyer?
This depends on your residency status. Foreign nationals living in the UK on a valid visa may be able to access products from around 10–25% deposit, depending on the lender. Non-UK residents buying from abroad often need around 25–40%. A larger deposit may improve product choice and pricing, subject to lender criteria. These are indicative ranges only and criteria can change.
Which UK banks offer international mortgages?
Some high-street lenders offer products for certain international buyers, and a number of specialist lenders and private banks operate primarily in this space. Eligibility criteria can be narrow and can change. A broker can check current availability and identify lenders whose criteria may be better aligned with your circumstances, including specialist routes that may not appear on comparison sites.
Will lenders accept my foreign income?
Some lenders will accept foreign currency income, though they may apply a discount to the usable figure to account for exchange rate risk. Not all lenders accept all currencies, and the approach varies. If your income is earned in the UK and paid in sterling, it is assessed in the standard way regardless of your nationality. For more, see our complex income guide.
Do I need a UK credit history to get a mortgage?
A UK credit history helps but is not always essential. Some lenders will consider applications from buyers who do not have a UK credit footprint, particularly if the deposit is strong and employment is stable. Where appropriate, building a UK banking and credit footprint before applying may help some lenders assess the case.
What is the 2% non-resident stamp duty surcharge?
Non-UK residents pay an additional 2% on top of all other applicable stamp duty rates when buying residential property in England. The test is based on time spent in the UK around the date of the transaction. Your solicitor can confirm whether it applies and whether a refund may be available if your residency status changes.
How does HMRC know if I own a property abroad?
The UK participates in international information-sharing arrangements between tax authorities, under which financial information can be exchanged between countries. Tax matters relating to overseas property and income can be complex, and you should take advice from a qualified tax adviser on your reporting obligations. This is a tax question rather than a mortgage one, but it is worth being aware of when buying internationally.
What is the 28/36 rule and does it apply in the UK?
The 28/36 rule is a US debt-to-income guideline and is not a standard part of UK mortgage lending. UK lenders use their own affordability assessments based on income, outgoings, and stress-tested interest rates rather than this ratio. If you have seen this referenced online, it is likely from US sources and does not apply to UK mortgage applications.
Next Steps
If you are an international buyer looking to purchase property in London, a useful first step can be having your circumstances reviewed by a broker who understands how different lenders treat visa status, foreign income, and overseas deposits. This can give you a clearer indication of what may be available before you commit to a purchase.
For further information about our London mortgage services, visit our London hub page.
Related Guides
Buy-to-Let Mortgages in London
Complex Income Mortgages in London
Self-Employed Mortgages in London
The information above is for general guidance only and does not take account of your personal circumstances. Tax treatment depends on individual circumstances and may change; tax advice should be sought from a qualified adviser.