"At Bucks, we want to support those who don’t yet have indefinite leave to remain but have shown commitment and stability through sustained UK residency and employment"
- Claire Askham - Buckinghamshire Building Society
The product, available immediately, is priced at 6.35% and can be used for purchases or remortgages. It has a maximum loan size of £750,000. Until now, the Society had limited lending to 80% LTV for Skilled Worker visa applicants, making the change a notable shift in its lending policy for foreign nationals.
Applicants must have lived and worked in the UK for at least two years and must show that their deposit was saved independently, as gifted deposits are not accepted. A £999 product fee applies.
The Society said the mortgage reflects its manual underwriting approach, which allows for case-by-case decisions and supports borrowers with complex income or visa-related circumstances.
The move follows a recent adjustment to the Society’s Credit Restore range, which raised the maximum LTV from 70% to 75%, aimed at providing more flexibility for borrowers with impaired credit histories.
“We know there are many people contributing to the UK economy under the Skilled Worker visa scheme who are more than capable of sustaining homeownership but have struggled to access competitive mortgage options, particularly at higher LTVs," comments the society's head of mortgage sales Claire Askham (pictured).
She added, “At Bucks, we want to support those who don’t yet have indefinite leave to remain but have shown commitment and stability through sustained UK residency and employment. This product gives those individuals a fair opportunity to buy or remortgage their home, with the personal and manual underwriting approach we’re known for.”
