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Indefinite Leave to Remain (ILR)

Indefinite Leave to Remain (ILR)

Portrait of Justin Whitelock, founder of Mortgage London, standing in a park

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

A UK immigration status giving a non-British national the right to live, work, and study in the UK without time restriction, widening lender appetite.

Related glossary terms

Income Multiple

A lending measure that compares the mortgage amount with the borrower’s income, for example borrowing four or five times annual income.

Holiday Let Mortgage

A specialist property mortgage covers buy-to-let lending where the property type, tenant structure, or use falls outside standard buy-to-let criteria. Two common forms are the Holiday Let mortgage, used for property let on a short-term basis to short-stay occupants rather than on a standard tenancy, and the HMO (House in Multiple Occupation) mortgage, used for

Material Change of Circumstances

A significant change after application affecting borrower position, property status, or transaction details, prompting lender reassessment.

Redemption Statement

A lender-issued document showing the exact amount needed to repay a mortgage in full on a specified date.