Pepper Money has expanded its lending criteria to better support UK visa holders, now allowing their income to be considered on mortgage applications up to 75% loan-to-value (LTV).

The update grants UK visa holders direct access to Pepper Money’s comprehensive range of residential mortgage products, provided that at least one applicant has a permanent right to reside in the UK.

To qualify, visa holders must meet the following requirements:

• Have a minimum of two years of UK employment history (if income is being used for the application)

• Reside in the UK

• Have a UK address history covering the past three years

Pepper Money’s mortgages are now available to individuals holding the following visa types:

• Tier 1 Entrepreneur Visa (although this visa is now closed to new applicants, Pepper will still accept valid existing holders)

• Tier 2 Skilled Worker Visa (now referred to as the ‘Skilled Worker’ Visa)

• Senior or Specialist Worker Visa

• Health and Care Worker Visa

• Family Visa

“As the UK continues to attract international talent across sectors like tech, healthcare and academia, it’s vital that our financial system evolves to support those contributing to the economy,” said Paul Adams, Sales Director at Pepper Money. “By extending our product criteria to accept UK visa holders, we’re helping skilled individuals put down roots and participate further in UK life.” 

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Source: David Burrows, Mortgage Strategy