Mortgage barriers trigger fall in the number of Africans applying for home loans

The number of Africans applying for, or planning to apply for a UK mortgage is falling as foreign nationals continue to struggle to navigate the UK home loan system, according to research by Afin Bank.

The research by the specialist lender found that 38% had a mortgage in 2026, compared with 48% in 2025 and that 24% planned to apply for a mortgage in the next 18 months, compared with 36% in 2025/ 23% were planning to remortgage in the coming 18 months, compared with 31% in 2025. Whilst 20% had applied for a mortgage in the last 18 months, compared with 38% in 2025

The same challenges exist for people from overseas looking to get a UK mortgage in 2026 as they did last year. When respondents were asked what the barriers were to applying for a mortgage it found that 22% were concerned they would be rejected because of their nationality, compared with 24% in 2025 and that 22% were worried their lack of UK credit history would be a problem, compared with 20% in 2025. 16% were concerned they would be turned down because of their visa status, although this was higher at 28% in 2025 and that 15% were worried they would be rejected because of non-standard income, such as self-employment or multiple income streams, compared with 22% in 2025. Meanwhile, 19% were worried UK lenders would not accept a gifted deposit or overseas funds towards their deposit, a new question for 2026

More than half (56%) of the African nationals living and working in this country told Afin they felt excluded from UK financial services.

However, what is more worrying is how this made people feel about their long-term prospects of staying in the UK, given that so many of the 1.5 million* African nationals living and working in the UK are employed in vital sectors such as healthcare and professional services with 65% of respondents who were doctors said they felt excluded from UK financial services.

39% said that not being able to buy their own home would be a barrier to them wanting to put down roots in the UK – this rose to 77% among doctors and 32% said it would make them want to leave the UK in the short to medium-term – this rose to 44% among respondents who were nurses and 80% among social workers.

27% said they would not want to stay in the UK for the long-term if they couldn’t get a mortgage, whilst 34% felt the difficult mortgage situation would discourage skilled people from overseas coming to the UK.

Tippie Malgwi, Head of Diaspora Banking for Afin Bank, said that many people from overseas on valid work visas faces the same issues: “These are people working in the UK, usually in important sectors such as healthcare or in well-paying professionals roles, but are effectively being excluded from getting a mortgage because they don’t fit the rigid criteria that many mainstream lenders apply.

“For example, some lenders demand that applicants have a longer period of time left on their visas, or they reject applicants because they don’t have several years of UK credit history. That is why Afin Bank was created as we know the demand is there from foreign nationals. It is our mission to help them get a mortgage to show them that they are valued and welcome in the UK.”