Embracing the foreign national opportunity – Blewitt

Interest in UK property from overseas buyers seeking the investment potential and security of UK property is nothing new. But Benham and Reeves data, obtained through a Freedom of Information request, shows a notable uptick. In 2024, 189,793 properties in England and Wales were owned by foreign nationals, which is a rise of 2.6% on the previous year. 

London remains the primary hotspot, with Hong Kong nationals owning 25,972 homes in the capital, making up 13.7% of all foreign-owned properties. That figure is up 5.7% year-on-year. Ownership by buyers from Singapore, the US, the UAE and China also rose steadily. Chinese nationals, in particular, increased their holdings by nearly 13% in a single year – the largest rise of any group in the top 20. 

This growth is driven by a mix of global factors. Political uncertainty, visa access, and confidence in the UK property market all play a part. But it’s also about settlement. Buyers are families, key workers, and skilled professionals seeking permanence and security. 

The official UK employment requirements 

One of the biggest enablers of this trend has been the Skilled Worker visa, introduced post-Brexit. It provides a route for overseas workers with a confirmed job offer from a Home Office-approved employer. The visa applies to roles listed on the government’s Shortage Occupation List. 

Sponsored

Aldermore Insights with Jon Cooper: Edition 6 – Busy lives, bigger pressures: why switching off matters more than ever

Sponsored by Aldermore

Salary thresholds vary by job but start at around £26,200. Higher thresholds apply to certain professions. Biological scientists, for example, must earn at least £38,000. Roles in health and social care often qualify at lower levels. 

Eligible occupations cover more than just healthcare and IT. They include construction workers, including bricklayers, roofers and carpenters, as well as musicians, choreographers, designers, scientists and fishermen. Applicants must speak English and can remain in the UK for up to five years, with an option to extend or apply for indefinite leave to remain. 

Lending to visa holders 

As more people arrive and settle under this visa route, many specialist lenders have adjusted their criteria to accommodate them. The aim is to widen access for borrowers who may not meet standard requirements around income levels, credit history or residency length. 

For example, at Darlington Building Society, we now accept applications of up to 95% loan to value (LTV) for Skilled Worker visa holders. Also, we no longer ask for a minimum income requirement or a set period of UK residency. At 90% LTV, there is no minimum visa term. For loans at 95%, a two-year term remaining is required and our applications are credit searched rather than credit scored. 

These updates reflect a broader industry shift as lenders have gained more experience and greater comfort in lending to foreign nationals. 

The adviser’s role 

For brokers, this trend presents a valuable and often overlooked opportunity. Many of these clients are first-time buyers. Some have modest deposits. Most plan to stay in the UK long term. Yet they may be unaware of the mortgage products that now support their circumstances. 

Understanding the details of visa types, lender policies, and affordability assessments is increasingly important. Advisers equipped with this knowledge can offer meaningful guidance to borrowers who may otherwise be turned away by bigger, well-known lenders. 

As specialist lenders continue to respond to changing borrower profiles, the adviser’s role becomes ever more crucial. Foreign national borrowers are no longer on the margins. They are active participants in the UK housing market and ought to be a growing presence on brokers’ radar. 

Their needs are straightforward. Their employment is often stable. And their desire to own a home in the UK is clear. Helping them achieve that goal is not just good advice, it’s good business.