AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Lenders usually want three things from a borrower on a work visa: enough time left on the visa, income paid locally in the local currency, and a bigger deposit than a permanent resident would need. Nationwide's intermediary criteria (October 2026), for example, ask foreign nationals without settled status for at least 12 months left on their visa and cap borrowing at 75% of the price unless basic income is at least £50,000 for one applicant or £75,000 for two.
Buying a first home abroad is possible on a work visa in many countries, but the rules are set lender by lender rather than by law. The same applicant can be refused by one bank and accepted by another. This guide shows what lenders typically ask, using published criteria as examples, so you can prepare before speaking to a broker. It is information, not mortgage advice.
1. Your immigration status and visa length
Lenders split applicants into those with permanent rights (citizens, permanent residents, settled status) and everyone else. Nationwide's intermediary criteria apply its standard rules to UK and Irish citizens and to people with indefinite leave or EU settled status. Other foreign nationals need an acceptable visa, such as Skilled Worker, with at least 12 months left when proof is uploaded if that income is used, and all applicants must be UK tax resident at completion. If one applicant has permanent status and the other is on a visa, Nationwide applies standard criteria, with the visa holder still needing an acceptable visa.
Nationwide's page says biometric residence permits are no longer accepted; status is shown with a share code or the online check immigration status service.
2. Deposit size
| Example | Rule as published | Source date |
|---|---|---|
| Nationwide, foreign nationals without settled status | Up to 85% loan-to-value if basic income at least £50,000 (single) or £75,000 (joint); otherwise maximum 75% | Oct 2026 |
| Canada, all buyers (FCAC) | Minimum 5% on the first C$500,000, 10% on the portion from C$500,000 to C$1.5 million, 20% at C$1.5 million or more; mortgage insurance usually needed below 20% | modified 15 Oct 2025 |
The FCAC also says the minimum down payment must normally come from your own funds, and that a lender may ask for more if you are self-employed or have poor credit. In practice, newcomers with a short history should expect to need more than the legal minimum.
3. Where your income and deposit come from
- Income currency and location. Nationwide wants foreign nationals' primary income in pounds paid into a UK account, and will not accept overseas self-employed income or income paid in foreign currency for expats. Income from Nigerian clients or a Nigerian employer is often harder to use.
- Deposit paper trail. Nationwide asks for three months' statements for savings held outside the UK and EEA, plus the UK statement showing the transfer; money from selling property abroad needs a solicitor's letter or completion statement. Gifts from parents in Nigeria are covered in gifted deposits from parents in Nigeria.
- What is not accepted. The same criteria list crypto, credit cards and community saving plans as unacceptable deposit sources, so money from an ajo or esusu should be moved into a bank account well before you apply.
4. Time in the country and credit history
Many lenders look for a minimum period of local address history or local credit, though the period varies. A short history is not always a bar, but a clean one matters: Experian UK says hard searches stay on your file for 12 months and several in a short period can affect your score, so let a broker search the market rather than applying to lender after lender. If you have Nigerian bank statements to support income, see using Nigerian bank statements for a mortgage abroad.
Worked example
Example only. Emeka is on a Skilled Worker visa with 30 months left and earns £42,000 basic. Under criteria like Nationwide's, his income is below the £50,000 single threshold, so the maximum loan is 75% of the price. For a £240,000 flat he needs a £60,000 deposit (25%), not the £36,000 (15%) an 85% loan would require. If he waits until he has settled status, standard criteria would apply.
Common reasons migrant applications stall
- Too little time left on the visa when the lender checks it, often because the application was started late.
- Income from abroad, in a foreign currency or from self-employment that the lender does not count.
- Deposit money that cannot be traced from its source to the local account.
- Several recent credit applications, or no local credit history at all.
- A mismatch between names or dates of birth on the passport, visa and bank records.
Most of these can be fixed with time: renew or extend the visa first, move savings into a local account months ahead, and keep one clean credit line running.
What to prepare
- Share code or residence permit, with the expiry date.
- Three to six months of payslips and bank statements for the account your salary is paid into.
- Statements tracing every part of the deposit, including transfers from Nigeria.
- A signed gift letter if family is contributing.
- Your credit report from each main agency, checked for errors.
Where Pryme fits
Pryme does not lend mortgages abroad. If part of your deposit is coming from naira savings, convert with a clear record: a Pryme account shows each conversion made with Swap, and through Pryme's partnership with VerifyDoc.ai you can generate a verifiable statement for a lender (receipts and statements). Outside Nigeria, Pryme's activities are carried out through regulated partners.
Questions people ask
Can I get a mortgage in the UK on a Skilled Worker visa?
Yes, with some lenders. Nationwide, for example, accepts Skilled Worker visas with at least 12 months left, with a maximum 75% loan unless basic income meets its thresholds.
How much deposit do I need as a newcomer in Canada?
The FCAC's legal minimum is 5% on the first C$500,000, rising above that, but lenders can ask for more if your credit history is short.
Can I use money from Nigeria for my deposit?
Usually, if you can trace it. Lenders typically want statements from the overseas account and the local account receiving it.
Can I use ajo or esusu savings for a mortgage deposit?
Nationwide lists community saving plans as unacceptable deposit sources, so move the money into a bank account well before applying.
Sources
- Nationwide for Intermediaries: Borrower types · accessed Oct 2026
- Nationwide for Intermediaries: Essential criteria · accessed Oct 2026
- FCAC: Saving for a down payment · accessed Oct 2026
- Experian UK: Searches and credit checks · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.