Content Writer
Mortgage Advisor & Director
If your income is paid in a foreign currency, it’s worth understanding how this impacts your mortgage application. Here, we’ll explain whether you can get a UK mortgage with foreign income, how much you could potentially borrow, and where to find specialist lenders who are comfortable with foreign income.
Can you get a UK mortgage with foreign currency income?
Yes, it is possible to get a UK mortgage with income paid in a foreign currency, but not all lenders are open to this. Those that do typically use stricter eligibility criteria and may apply a ‘haircut’ to your income (reducing it by a certain percentage) to offset currency exchange fluctuations.
Lenders want to ensure that your income is stable, traceable, and not overly exposed to currency volatility. You'll sometimes need to provide more documents and paperwork compared to earnings from Pounds Sterling (GBP). Lenders will need to be comfortable with your employment, level of income, and monthly spending habits.
Types of foreign income you can use
Most UK lenders who consider foreign income take varying approaches and may accept:
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Salaried employment paid in a foreign currency.
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Self-employed income from an overseas business (although tax can be a complication).
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Rental income from foreign property (this is rarer).
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Dividends or investment income earned abroad (case-by-case basis).
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Supplemental income (overseas bonuses or commissions, if consistent and well-documented).
The types of foreign currencies accepted by lenders will also vary, but the most commonly accepted types of foreign currency include:
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US Dollar (USD)
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Euro (EUR)
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Swiss Franc (CHF)
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Singapore Dollar (SGD)
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Canadian Dollar (CAD)
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UAE Dirham (AED)
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Australian Dollar (AUD)
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Hong Kong Dollar (HKD)
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Japanese Yen (JPY)
How we can help maximise your affordability
When you're applying for a mortgage in the UK using foreign income, it's not just about whether a lender accepts your income; it's how they assess it. This is where specialist support makes a huge difference.
Here’s how we can help you secure the best outcome if you rely on a foreign currency:
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Find suitable lenders: Not all lenders accept the same currencies. Our advisors can introduce you to those that welcome your type of income and foreign currency.
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Minimise the haircut: Most lenders apply a 20% to 25% haircut on foreign income. This means only 75% to 80% of your gross income is considered. Our brokers work with lenders who apply the smallest deductions and assess income closer to its true value.
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Use multiple income streams: We can help you find lenders willing to consider supplemental income, such as overseas bonuses, commission, or investment income. This can stretch your mortgage affordability.
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Work with higher multiples: Some specialist lenders offer income multiples of 5 times your salary or more, especially for high earners or those with a solid credit history. This is rarer for a foreign currency mortgage, but it can significantly boost your borrowing power.
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Help self-employed applicants: Our brokers know which lenders will accept overseas self-employed income, and they can guide you through all the required documents to ensure a smooth application process.
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How much you can borrow with foreign income
If your income comes from a foreign currency, how much you can borrow typically depends on:
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Your annual gross income (after any currency haircut).
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Size of your deposit and loan-to-value (LTV) ratio.
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The specific currency you’re using and the lender’s risk assessment.
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The income multiple used by the lender.
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Whether the lender is willing to accept any additional sources of income.
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Your credit history, UK residency status, and overall finances.
It’s best to speak with a specialist mortgage advisor to get realistic figures for your situation. A useful rule of thumb is to deduct 20% from your income to account for the haircut, and then multiply the result by 4.5 to estimate your borrowing potential.
You can use our calculator below to get an idea about how much you could borrow for a mortgage with income in a foreign currency:
Foreign currency mortgage lenders in the UK
While many high-street lenders are cautious about people with foreign income, here are a few popular lenders known for accommodating this type of applicant under the right conditions:
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Santander: May accept foreign income for mortgage applications in certain cases, typically when the income is in a major currency such as USD or EUR. Santander applies a ‘haircut’, usually at least 20%, to account for exchange rate fluctuations. Applicants usually need to be on PAYE with a permanent contract.
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Barclays: One of the more flexible high-street lenders when it comes to foreign income, with specific international mortgage products. However, you sometimes need to be a high-net-worth client with a Barclays account from one of its 35 qualifying countries, earning either USD or EUR.
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HSBC: Particularly through its international and Premier banking divisions, HSBC may accept foreign currency income from a broad range of countries. However, depending on your residency and right to live in the UK, you might face a maximum LTV of 85% and need a minimum income of at least £75,000.
If you want to carry out a realistic and accurate comparison of mortgage lenders who accept foreign currency as your main source of income, it’s well worth talking to a specialist broker. They can help you navigate lender criteria, reduce the impact of income haircuts, and identify the most competitive deals.
If you wish to compare the latest rates from these lenders and more, you can do so for free using our whole-of-market mortgage-sourcing tool below:
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Why choose Teito for your foreign currency mortgage?
With our free comparison tool, you can view mortgage rates from lenders across the UK, including those that accept income in foreign currencies. We also offer expert guidance through specialist brokers who understand the unique criteria involved in securing a mortgage with overseas income.
Whether you're paid in Euros, Dollars, or another currency, our experienced advisors can help you find a lender who will accept your income, apply the smallest haircut possible, and offer the most favourable terms based on your individual finances.
Here’s why people across the UK trust us to help them secure a foreign currency mortgage:
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Easily compare foreign currency mortgage rates online for free
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Our brokers are 5-star rated on leading review sites
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Free initial chat with no obligation to proceed further
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Access to specialist lenders who accept foreign income
If you’d like to compare current mortgage rates or have a free, no-obligation chat with a broker who specialises in foreign currency mortgages, you can get started here.
FAQs
Yes, some UK lenders offer foreign income mortgages to applicants in Northern Ireland. The availability depends on your currency, source of income, and property type.
Foreign income mortgages, specifically using Euros, are often sought in Northern Ireland due to its close physical proximity to the Eurozone and freedom of movement across Ireland
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.