As part of our ongoing drive to support deserving applicants who are typically neglected by most high street lenders, we have launched a new range of mortgages to help skilled foreign workers in the UK own their own home.
We require no minimum income or time remaining on current visa* for Skilled Worker and Health & Care Worker visa holders for products up to 90% LTV, with no minimum time spent in the UK, and up to 95% LTV with one year’s residency.
With almost 20% of NHS staff not being UK nationals, and with around a third of a million skilled worker visas issued in 2023, there is a growing need for housing solutions for this vital and neglected segment of the UK workforce. This new mortgage offering will help brokers who struggle to help foreign workers who, despite meeting affordability criteria, simply have not been in the UK long enough to apply.
Explore our latest product update below and if you have any questions, please get in touch with our team. You can also learn more about our recent spring product refresh and long term fixed rate reductions.
Be the first to know about our product launches, updates, and withdrawals. Sign up to our newsletter below.
Criteria that breaks through those barriers
- No minimum residency within the UK is required
- No minimum income requirements
- No minimum time remaining on the Visa is required (If there is less than six months remaining on the current visa, it must be evidenced before completion that the visa extension has been granted.)
- Maximum LTV is 95% (restricted to 90% LTV if residency within the UK is less than 12 months)
- 1-year employment track record is required
What are the new products?
- Visas – 2 Year Fixed 6.49% – 90% LTV – VISF1
- Visas – 2 Year Fixed 6.79% – 95% LTV – VISF2
- Visas – Fixed 5 Year to 14/09/2029 – 5.99% – 90% LTV – VISF3
- Visas – Fixed 5 Year to 14/09/2029 – 6.39% – 95% LTV – VISF4
Creating inclusive products that breaks barriers
Laura Sneddon, Head of Mortgage Sales, said:
“Bringing their essential skills to the UK, and committing to a new life here, skilled foreign workers deserve the opportunity to feel they truly belong, and owning their own home is a big part of that. They’re vital to the national interest, contributing much-needed skills to essential services like the NHS, and we feel that enabling them to own their own home sooner rather than later is incredibly important.”
Christopher Holmes, Products Senior Manager, commented:
“We spend a lot of late nights coming up with new products and making adjustments to existing products, for the single purpose of delivering what homebuyers really need in today’s world. We live in an inclusive country, and it’s time the UK showed its skilled foreign workers how much we value them being part of our society. In our own small way, that’s what Hinckley & Rugby has set out to achieve with our new mortgages for skilled foreign workers.”
Stay informed
Want to be alerted when we launch, update, and withdraw our products?
If you would like to keep up to date with our product launches, criteria updates, and any other changes we make to our product range, you can sign up to our email newsletter below and receive this information straight to your inbox.
Speak to us
Our dedicated Business Development team will be happy to speak to you about any cases you have, explain how our specialist products and flexible criteria can benefit your clients, or answer any questions you have about our Mortgage Referrals Committee. Get in touch on 01455 894 084. Or send us a message on our Live Chat, our response time is often only seconds!
*If there is less than six months remaining on the current visa, confirmation that the visa is to be extended must be received before completion.
Please note product details and criteria are correct at launch and are subject to change.
