The UK government wants to help homeowners by smashing the myth that non-UK citizens are ineligible for a mortgage. When you are working and living in the UK and have landed on your dream home, you must be desperate to get your hands on a mortgage. The only thing stopping you from acquiring this dream is not being a British national. The fact is that obtaining a mortgage approval for non-UK citizens, whether it is you or your partner, is less about the country of your birth and more about credit history. Everyone can become confused at this point, so you are not in this alone. With a massive population of 65 million, some nine million are non-UK citizens. This translates to the fact there are a lot of house-hunters that are foreign-born. However, the number of homeowners among those foreign-born cannot be ignored as well. According to the recent stats, foreign buyers own nearly 10 per cent of UK’s housing properties. There are a number of things that affect how feasible it is to acquire a mortgage as a foreign national in the UK. However, for a British citizen, nationality shouldn’t be out of the list. The fact of the matter is that the lenders cannot distinguish between EU citizens entirely on the foundation of the country of their birth. So, whether someone was born in Berlin or Bristol, it is not supposed to put you at a disadvantage when trying to obtain a mortgage. As long as someone has been a resident of Europe for the past three years, possessing a bank account and permanent employment history within the UK is sufficient. Your credit history, however, is another story and is scrutinised more critically –this could become a hesitant hurdle if you have only later moved to the UK. Possessing an excellent credit rating is indispensable when it comes to acquiring the finest deal or any deal whatsoever. So, one needs to build their credit score up as soon as you land in the UK. Naturally, the circumstances turn even more complicated for non-EU citizens when they are in search of a mortgage. However, what is important to remember is that it is not impossible.
