More than four in 10 mortgage brokers expect foreign national mortgage enquiries to increase over the next year, according to research from Gen H.

A survey of 295 brokers on Gen H’s panel found that 44% anticipate a slight or significant rise in cases involving foreign national applicants over the next 12 months.

The findings also suggest the trend is already emerging, with 37% of respondents reporting a slight or significant increase in foreign national business during the past year.

According to Gen H, brokers who already specialise in foreign national lending were more likely to report a significant increase in enquiries.

The lender said this may reflect the growing number of people who moved to the UK following the expansion of the Skilled Worker visa route in 2022.

Four years on, many are now in a position to consider homeownership, having established a UK credit history and built up savings for a deposit.

However, foreign national borrowers can still face additional challenges when seeking mortgage finance. Many lenders apply tighter eligibility criteria, while some require applicants to have at least two years of UK credit and address history.

It is also common for foreign national mortgage products to require a minimum deposit of 25%.

Sara Palmer, sales and distribution director at Gen H, said: “These are telling numbers. It is very exciting that so many people who moved to the UK a few years ago are ready to buy a property and truly call this country home.

“We are already seeing this trend in action at Gen H, where nearly one-third of our applications have at least one foreign national applicant.

“Many lenders deem these aspiring homeowners to be inherently risky, but we know and mortgage brokers know that this isn’t necessarily true – they are as creditworthy as people who are born here.

“As more foreign nationals begin exploring mortgage options, it will be up to brokers to make sure they’ve got lenders on hand who will work with them to say ‘yes’.”

The results indicate that advisers expect demand from foreign national borrowers to become a more prominent feature of the mortgage market over the coming year, potentially creating opportunities for lenders and brokers able to support applicants who fall outside standard lending criteria.