For applicants without indefinite leave to remain, Nationwide Building Society has reduced the minimum visa validity period it requires for residential mortgage applications.
Effective from today, applicants need a minimum of 12 months remaining on their visa at the time the application is made.
This was reduced from the previous requirement of two years and six months.
Borrowers without indefinite leave to remain can borrow up to 75% loan-to-value (LTV), and will need a three-year address history.
Henry Jordan, director of home at Nationwide Building Society, said: “This latest change to our minimum visa validity requirement will increase the mortgage options available those applicants without indefinite leave to remain and bring Nationwide in line with the wider mortgage market.”
