Getting a Mortgage Without Indefinite Leave to Remain (ILR): What You Need to Know

Getting a Mortgage Without Indefinite Leave to Remain (ILR): What You Need to Know

If you’re living and working in the UK without Indefinite Leave to Remain (ILR), you might think buying a home is out of reach — especially if you’ve heard you’ll need a 25% deposit.

The good news? That’s not always the case. Lenders are starting to recognise the strength of applicants who are building their lives here, especially those with good incomes. One of the big players, Accord, has recently updated its policy to make things easier.

The New Rules in Simple Terms

Here’s how Accord’s updated lending criteria could work for you:

• If no applicants have ILR:
  • You can now borrow up to 90% loan-to-value (LTV) — meaning just a 10% deposit.
  • At least one applicant must earn £50,000+ per year.
  • If the £50k income rule isn’t met, the maximum is 75% LTV (so a 25% deposit).
• If one applicant has ILR:
  • You can still borrow up to 95% LTV (just a 5% deposit).
• Other things to know:
  • Standard affordability and credit checks still apply.
  • Porting and product switches follow the same rules as any other borrower.

What This Means for You

This change could open the door for many professionals on work visas, Tier 2/Skilled Worker visas, or other residency statuses who may have thought homeownership was years away. If you’re earning £50,000 or more, you could buy with a deposit as low as 10% — not the 25% you might have been told.

How We Can Help

At Verve Financial, we specialise in helping clients who don’t have ILR but want to take their first (or next) step on the property ladder. We know which lenders are flexible and how to present your case in the best light.

If you’re worried that your visa status means you’ll need a huge deposit, or you’re not sure where to start — we can guide you.

Book a free initial chat with us today and find out how much you could borrow.