It will now accept global talent and pre-settlement visas
Nottingham Building Society has expanded its mortgage criteria to include additional visa types for skilled foreign nationals settling in the UK.
The updated policy, effective immediately, will now accept global talent and pre-settlement visas alongside the previously accepted skilled worker, health and social care, and tier 2 visas.
The mutual said the inclusion of these visa types is part of its ongoing effort to cater to a diverse customer base and address their specific needs.
Under the new criteria, borrowers with a global talent visa, which is issued to individuals with specialised industry skills and does not require a minimum salary or a specific employer, can now apply for a mortgage.
In addition, the pre-settlement visa, available to EU and Swiss nationals who were residing in the UK before June 30, 2021, is now also accepted. The visa allows these foreign nationals to live and work in the UK indefinitely.
Having introduced its mortgage proposition for foreign nationals last May, Nottingham Building Society has already received significant interest, with applications from over 30 different nationalities.
Commenting on the visa criteria changes, Alison Pallett (pictured), sales director at Nottingham Building Society, said they were delighted to continue expanding the mutual’s mortgage offering and help people with different, diverse circumstances to settle in the UK.
“We will now be able to support even more talented professionals from around the world, who make substantial contributions to the UK, in achieving their homeownership goals,” she added.
The Nottingham has recently reported positive half-year financial results, achieving a 15% growth in gross new lending to £525.7 million. Its total mortgage assets grew to £3.9 billion, up 18.6%, while the number of new mortgage customers also saw a rise, with 4,069 new borrowers in the first half of 2024, representing an annual increase of 12.1%.
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