The Cambridge has extended its lending criteria to foreign nationals on either a Skilled Worker Visa (Tier 2), Global Talent Visa (Tier 1) or Health and Care Worker Visa, up to 80% loan to value (LTV).Applicants must have been a resident in England or Wales for the last two years and have a 20% deposit from their own sources.For applications in joint names, where one applicant holds permanent right to reside in the UK the maximum LTV increases to 95%, with only a 5% deposit required.
In the year ending June 2023, there were around 321,000 grants to main applicants on all work visas. This is 45% higher than in the previous year and almost two and a half times the number in the year ending June 2019, according to data from the Home Office.
The Cambridge intermediary manager Kathy Bowes said: “Since leaving the European Union, all foreign nationals looking to live and work in the United Kingdom must have successfully applied for a Visa and we’re delighted to be able to help these individuals purchase a home.”
