The Cambridge will consider people on a tier 2 skilled worker visa, tier 1 global talent visa, or health and care worker visa. Borrowers must have been a resident in England or Wales for the last two years and have a deposit of at least 20 per cent from their own sources.
Lending is available up to 80 per cent loan to value (LTV) or 95 per cent for applications in joint names where one borrower has the permanent right to reside in the UK.
Kathy Bowes, intermediary manager at The Cambridge, said: “Since leaving the European Union, all foreign nationals looking to live and work in the United Kingdom must have successfully applied for a VISA and we’re delighted to be able to help these individuals purchase a home.”
Leek BS launches shared ownership option
Leek Building Society has released a shared ownership product to support affordable homeownership.
The mortgage is a five-year fix with a rate of 5.65 per cent. It can be lent against new-build houses or flats and is open to borrowers with household incomes below £80,000 in England or £90,000 in London.
It is available up to 95 per cent LTV of the equity share.
Nikki Warren-Dean, head of intermediaries at Leek Building Society, said: “At Leek Building Society, we recognise the challenges many individuals encounter in realising their dream of homeownership, especially in today’s market.
“Our shared ownership mortgage is there to lend a helping hand to those struggling to secure substantial deposits and first-time buyers seeking a foothold on the property ladder.”
