Mortgage In The UK With Income In US Dollars

"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:

Get in touch for a no-obligation chat about how I might be able to help you.


Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.

1 Step 1

Your information will only be used to answer your enquiry and will not be retained for marketing purposes. 

The internet is not a secure medium and the privacy of your data cannot be guaranteed.​

FormCraft - WordPress form builder

Table of Contents

If your primary income is in US dollars, obtaining a UK mortgage might pose a challenge. Most UK lenders typically prefer income earned and paid in pounds sterling. However, there are alternative mortgage providers willing to consider your situation. Though lending options might be limited, I’ve assisted many individuals facing this mortgage challenge.

Which occupations are deemed suitable for securing a mortgage based on income in US dollars?

Whether you’re a Seafarer, Oil Rig Worker, Engineer, Pilot, or employed in another occupation, if you’re a UK resident receiving income in a foreign currency like US dollars, seeking approval for a mortgage or re-mortgage, your profession is unlikely to be a significant factor, and I may be able to assist.

Is it possible for me to secure a UK mortgage if I work abroad for extended periods but return home during breaks?

Yes, it’s possible. Lenders may assess your application if you work abroad but return to the UK during breaks. Many individuals who work abroad on rotational patterns at home and overseas find lenders generally comfortable with this arrangement, as long as you’re classified as a UK resident throughout the year. However, depending on the currency your income is received in, the sustainability and affordability of such an arrangement could potentially influence your options.

What deposit amount is required to apply for a UK mortgage when receiving income in US dollars?

Subject to your individual circumstances, affordability, and credit profile, you may only need a minimum of a five percent deposit to apply for a mortgage in the UK. As a UK resident, the currency in which your income is received has no impact on the specific deposit level required by lenders.

Does the location where you pay taxes affect mortgages based on foreign currency income?

Some lenders considering overseas income will require UK tax to be paid but this is frequently not necessarily the case.

If income is earned tax-free in a certain country and is brought back into the UK, then self-assessment in some circumstances may be required to evidence the income earned and tax paid accordingly…but again this is not always the case.

If no tax is paid at all, then lenders may expect an acceptable and viable explanation as to why this is the case but as this is commonplace for those paid in foreign currency, lenders most likely will still be willing to consider things.

Could the location of my job affect the likelihood of my mortgage application being approved?


Working in European countries or with firms in places like the USA might increase approval chances compared to working in riskier or politically and fiscally sanctioned countries.

There is not typically a hard and fast rule around this but rather that any assessment will be based on the overall “picture” and whether the situation could be considered as feasible or not. 

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. 

Will my employment status be an issue when paid in US Dollars?

The short answer is “Yes.”

Those who are classified as employed workers earning income paid in overseas currency, will undoubtedly have more lenders available than to those who are self-employed.

In fact, if self-employed your options will likely be limited to very specialist lenders if available at all. This is due to the difficulty in being able to  verify actual earned disposable income from self-employment due to different tax systems in different countries. 

As a result, if self-employed income is earned overseas then lenders will almost always require the company to be domiciled in the UK, with full accounts drawn and tax paid on income as if it were from the UK.

Please note: HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

How does having poor credit impact my application?

If there’s previous bad credit showing on your credit file, then as with most forms of borrowing this can definitely limit the options available to you. 

Potential credit issues you may be faced with are a low or impaired credit score, defaults, County Court Judgements (CCJs), Individual Voluntary Arrangements (IVAs), and Debt Management Plans (DMPs).

I help people with these kind of issues every day but in general the smaller the amounts involved, the less severe and older the issue, and the larger the deposit, the more chance there is of approval.

Worst case, if it’s not feasible to apply for a mortgage right now, I can and will still work with you and advise what things need to be done to improve your chances in the future.

What is the actual process when looking to buy a property in Scotland?

To understand more on this topic click here

Hopefully the above information has been useful but if you have any other questions or are ready to start your own property journey now, please fill in the enquiry form and we will get in touch!

This article is intended to be a generic overview and each individual situation will need to be considered carefully, with the final decision being down to the lender.

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!

1 Step 1

Your information will only be used to answer your enquiry and will not be retained for marketing purposes. 

The internet is not a secure medium and the privacy of your data cannot be guaranteed.​

FormCraft - WordPress form builder