Client Success Stories – Securing a Mortgage In The UK When Paid In a Foreign Currency.
"I'm a Specialist Mortgage Advisor who can help your property dreams come true."
Ross McMillan
Blue Fish Mortgage Solutions
As a former estate agent of almost 15 years, I now use my vast experience, insider knowledge and access to dozens of lenders to help people like you:
- Secure the right mortgage for your circumstances.
- Successfully master the Scottish property buying process from start to finish.
- Achieve your property ambitions - however big or small
Get in touch for a no-obligation chat about how I might be able to help you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.
Table of Contents
Real Success Stories: How Blue Fish Mortgage Solutions Helps Clients Paid in Foreign Currency Secure Their Dream Homes
At Blue Fish Mortgage Solutions, we specialise in helping clients who are paid in foreign currency secure mortgages in the UK. We understand the challenges faced by expatriates, international contractors, and UK residents earning overseas income, particularly when dealing with exchange rate fluctuations, foreign bank accounts, and lender restrictions.
Our expertise, tailored approach, and strong relationships with specialist lenders allow us to find mortgage solutions for those earning in currencies such as US Dollars, Euros, Saudi Riyals, and more—cases that traditional banks and high street lenders often decline.
Whether your income is paid into an overseas bank account, subject to exchange rate variability, or comes with complex allowances and bonuses, we know how to present your financial profile effectively to lenders to maximise your mortgage options.
Below, you’ll find real success stories of clients paid in foreign currency who we’ve helped secure mortgages and move into their dream homes. If you earn in a foreign currency and need expert mortgage advice, we’re here to help!
Explore our case studies and see how we’ve made homeownership a reality for clients paid in foreign currency.
Case Study: Securing a Mortgage in the UK when paid in Saudi Riyals.
Overview:
Frankie and Kirsteen were eager to move into their dream home, but Frankie’s overseas employment presented significant mortgage challenges. Working in Saudi Arabia for several weeks at a time, Frankie’s income was paid in Saudi Riyals and initially deposited into a Saudi bank account before being transferred to the UK. His earnings were further complicated by variable pay elements, including different allowances and fluctuating income based on his work location.
Challenges:
Foreign Currency Income – Frankie’s salary, paid in Saudi Riyals, required conversion before being used in the UK and the majority of lenders will not consider income received in a foreign currency.
Overseas Bank Transfers – Due to Saudi banking laws, his salary was first deposited into a Saudi account before being transferred to the UK, causing concerns about income traceability.
Variable Pay Structure – His earnings fluctuated significantly depending on whether he was working abroad or back in the UK, making it harder to establish a consistent income level.
Solution:
Frankie and Kirsteen sought the expertise of Ross from Blue Fish Mortgage Solutions who was familiar with foreign currency cases and helped them:
-
Identify lenders who accept foreign currency income and understand international banking restrictions.
-
Provide a clear income history, demonstrating how Frankie’s earnings were converted and transferred to the UK.
-
Present bank statements and payslips to show an average, sustainable income level over a defined period.
-
Work with a lender that factored in variable pay elements and allowances as part of their affordability assessment.
Outcome:
With the support of expert mortgage advice from Blue Fish Mortgage Solutions, Frankie and Kirsteen secured a mortgage with a lender experienced in handling overseas income.
By clearly demonstrating Frankie’s earning consistency and the legitimate transfer of funds, Ross successfully obtained a mortgage offer for them and they moved into their dream home.
Case Study: How We Helped a Marine Engineer Secure a Mortgage Despite Being Paid in Euros
Louis, a marine engineer employed by a Guernsey-based company, was looking to secure a mortgage in the UK. His partner, Amy was self employed hairdresser but the bulk of the household income came from Louis and his income was paid in Euros, and due to his unique work schedule—working two months on and two months off—his payslips showed fluctuating earnings. During his working months, he earned double his usual salary, while in his off months, he received no income. This made it difficult to fairly represent his true earning capacity when applying for a mortgage.
The Challenge
-
Income paid in Euros, requiring careful currency conversion.
-
A work pattern of two months on, two months off, leading to significant fluctuations in monthly earnings.
-
Standard three-month income averaging would not accurately reflect his true annual income.
-
His salary was received in a Euro Starling account before being transferred to a UK Starling account and then to a Halifax current account, making financial tracking complex for lenders.
Solution
To present a fair and accurate income profile, we:
-
Knew how to demonstrate to lenders a 12-month income average instead of the standard three-month snapshot, ensuring consistency despite his work schedule and seasonal fluctuations.
-
Submitted bank statements from all three accounts (Euro Starling, UK Starling, and Halifax) to demonstrate a clear and manageable income flow.
- Understood clearly the working patterns in his industry and how these could be best represented and explained to a lender.
Outcome:
Thanks to our expert handling and ability to present Louis’ income in a way that lenders could understand, his and Amy’s mortgage application was approved.
They were able to secure and move into their new home after affordability was comfortably demonstrated to the lender by us despite the complexities of his earnings.
Case Study: Securing a Mortgage for a Contractor Working on US Military Bases and Paid In US Dollars.
Kieran, an experienced contractor, was looking to secure a mortgage in the UK while working overseas. His partner Amy was employed within the NHS on a standard PAYE salary basis but he was employed by a US company, currently stationed on US Military Bases in Jordan, having previously worked in Iraq. His income, paid in US dollars, was stable, but his contract-based employment and the international nature of his work made securing a mortgage challenging.
The Challenge
-
Employment contract with a US company, creating potential issues for UK lenders unfamiliar with international contracts.
-
Working in Jordan and Iraq on a rotational schedule, spending months abroad before returning to the UK for short periods.
-
Contract-based role, with 7 months remaining at the time of application, despite a history of contract renewals and industry demand.
-
Income paid in a foreign currency, requiring careful presentation to lenders.
-
Accommodation and transport covered by the employer, making affordability calculations different from standard UK-based applicants.
Solution
To ensure Amy & Kieran’s mortgage application was successful, we:
-
Provided evidence of his consistent 14-year employment history in the industry, demonstrating job stability despite contractual work.
-
Highlighted the likelihood of contract renewal, as well as industry demand for his role, supported by the fact that US military bases are expected to maintain operations in the foreseeable future.
-
Explained to lenders that even if a new company won the government contract, existing workers were typically retained, ensuring job continuity.
-
Converted his US dollar income into GBP and provided clear bank statements showing how his salary was received and transferred to the UK.
-
Demonstrated affordability based on his net income, factoring in that his employer covers accommodation and transport costs, leaving him with minimal fixed expenses.
Outcome:
By leveraging our expertise in foreign income mortgages and contractor employment structures, we successfully secured a mortgage for Kieran and Amy.
Despite the complexities of his work arrangement and foreign currency income, we provided the necessary evidence to show his financial stability and future earning potential, allowing him and Amy to purchase their first home together.
Speak to an expert!
Contact me, Ross McMillan, the owner of Blue Fish Mortgage Solutions today for expert advice and guidance on your unique mortgage and property needs. I will work with you one-on-one to help you find the right solution for your specific needs. With my expertise and industry connections, you can rest assured that you are in good hands when it comes to securing the financing you need for your property.
Looking for tailored help? Get in touch today to connect with a specialist mortgage advisor who understands your situation and can help and advise you get where you want to be.
Let's Make Things Happen.
Take The First Steps Now And Request Your Initial Discovery Call.
Request your initial discovery call by filling out your details here and I will personally be in touch within 48 hours by text, WhatsApp or email to arrange your no obligation chat!