Hodge enhances foreign national mortgage criteria

Hodge has announced several key updates to its residential mortgage criteria to better support foreign nationals.

Hodge is increasing its maximum LTV from 80% to 90%, reducing the minimum time required in the UK to apply from three to two years, and eliminating the minimum income requirement for foreign nationals on a visa. In addition, applicants will need no minimum time remaining on their visas to apply.

The criteria enhancements apply to global talent, skilled worker, health & care worker, and spousal visas. 

James Enos, national account manager at Hodge, said: “These changes are designed to make homeownership more achievable for individuals who may have been underserved by traditional mortgage criteria.

“We’re always striving to make our products accessible to as many people as possible. Our goal is to make homeownership attainable for a wider range of individuals, particularly those who contribute so significantly to the UK economy.

“We’re excited to introduce these changes as part of our broader mission to make homeownership more inclusive.

"By removing barriers such as minimum income requirements and reducing the time someone needs to have lived in the UK, we are opening doors for more people, particularly those in essential roles, to achieve homeownership.

"This is a key step in making the housing market more accessible for a wider range of customers.”