85% LTV first time buyer mortgage for foreign nationals


88I recently secured a first time buyer mortgage for two foreign nationals. Given their situation, the loan to value (LTV) and rate we sourced were a fantastic result.

My clients in this instance were a married couple, both Belgian nationals, with two small children. The husband worked for a large multinational pharmaceuticals company, and had recently been transferred to the UK. They had been in the UK for 3 months when they approached Enness for help; they were looking to buy their first property over here, and had settled on a new build house in Cambridge. They were hoping for an LTV of 85%.

The wife did not yet have a job over here. Although she was expecting to find work by the summer, this put a strain on affordability. On top of this, the husband had only been with his current employer for 10 months.

As they had not been in the UK for very long, they had not had much time to build up a credit footprint here. This can make it much more difficult to secure high LTVs – indeed, other lenders had turned them down on this basis. Another potential spanner in the works was the restrictions lenders usually place on the LTV for new build homes. The final hurdle was their short residence history; lenders generally require 3 years’ address history in the country.

I approached a lender who I thought would be willing to take a view of their case. Some lenders are more flexible when it comes to EU nationals, and the particular bank I spoke to was able to take their Belgian address history into consideration. This case was a good illustration of how our in-depth knowledge of the minutiae of lenders’ criteria allows us to source the best possible solutions for our clients.


I secured a 2 year fixed rate mortgage at 85% LTV for my clients, at the excellent rate of 1.97%.