Newcastle for Intermediaries has enhanced its lending policy with several criteria changes including reducing the visa validity requirement from two years to just three months.
Amongst the changes for non-EEA customers with either Skilled Worker Visas or Health and Care Visas are shorter residency requirements, meaning people are able to apply for a mortgage after a minimum of two years in the UK.
The lender has also reduced the time that is required to remain on the visa from two years to just three months meaning applicants no longer need a full two years to be eligible.
The requirement for six months of bank statements has now also been removed subject to satisfactory residency checks to help accelerate the mortgage application process.
Gary Howe from Independent Mortgages Direct NE (IMDNE) is an active member of the society’s Broker Research Panel and regularly contributes with feedback to enhance the lenders propositions and its Mortgage Application system.
He said: “Overall, Newcastle’s updated mortgage policies for non-EEA nationals reflect a balanced blend of inclusivity, flexibility, and regulatory compliance.
“Their efforts to accommodate a broad spectrum of applicants, while maintaining a rigorous yet fair review process, underscore their commitment to helping as many people as possible achieve their dream of home-ownership”
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, added: “We’re always striving to maintain a competitive lending proposition and our latest criteria changes for non-EEA applicants reflect this commitment.
“The changes we’ve made will help meet the needs of customers that have a different set of requirements because of their country of origin.
“They provide brokers with a greater number of options and flexibility when sourcing the right products for clients.”
