Santander UK has expanded its foreign national mortgage policy by increasing the maximum loan-to-value available to eligible applicants without permanent rights to reside in the UK from 75% to 90%.

The change applies across all property types, including new-build homes, and is designed to widen access to higher loan-to-value borrowing for qualifying foreign national applicants.

Applications under the updated policy will continue to be subject to affordability assessments, alongside minimum income requirements based on how long applicants have been resident in the UK.

Applicants who have lived in the UK for one year or more must have a minimum income of £50,000 for a sole applicant or £75,000 for joint applicants. Those who have lived in the UK for less than one year must have a minimum income of £200,000, whether applying individually or jointly.

Foreign national customers borrowing between 75% and 90% LTV will also be required to provide three months of UK bank statements showing salary credits, evidence of the source of their deposit and, where income is below £200,000, verification of how long they have lived in the UK.

Felicity Barnett, new build & affordable housing partnerships manager at Mortgage Advice Bureau, said: “It’s encouraging to see Santander expand to 90% LTV for eligible foreign national buyers.

“The changes strike a strong balance between robust checks and improved access to higher borrowing for eligible customers.

“It also marks a meaningful step for the new-build sector and serves as further demonstration of Santander’s commitment to this area.”

There is no change to Santander’s policy for applicants with permanent rights to reside in the UK, applications at or below 75% LTV, foreign nationals with diplomatic immunity or buy-to-let applications.

The lender also confirmed there are no changes for customers with pre-settled status, settled status or indefinite leave to remain applying above 75% LTV.