Why This Matters
For many foreign nationals moving to the UK, one of the biggest questions is whether their overseas income or payslips can be used to support a UK mortgage application. Maybe you have only been in the UK a short time, or you still earn part of your income abroad. So will lenders take this into account?
The Short Answer
Most high street banks do not accept foreign payslips. They usually want proof of UK-based income that is paid into a UK bank account. However, there are specialist lenders who will consider it, but with stricter rules and requirements.
When Lenders May Accept Foreign Payslips
- Currency: Income in stable currencies such as GBP, USD, EUR, CAD or AUD is more likely to be accepted. More volatile currencies are usually declined.
- Visa status: Being on a Skilled Worker, Spouse, BNO or Global Talent visa can improve your chances.
- Documentation: Lenders may ask for:
- Original payslips from your overseas employer
- Certified English translations if not in English
- Overseas and UK bank statements showing the money being paid
- Tax returns or proof of overseas tax paid
- Original payslips from your overseas employer
Common Limitations
- Many lenders only use a percentage of foreign income, sometimes 50 to 80 percent.
- The pool of lenders is small, usually specialist or private banks rather than mainstream high street banks.
- Self-employed foreign income is much harder to use unless you can prove a long trading history with strong documentation.
- Many lenders only use a percentage of foreign income, sometimes 50 to 80 percent.
Example
Imagine you have just moved to the UK on a Skilled Worker visa and still get part of your salary from your home country in USD. A small group of specialist lenders may accept 100 percent of this if everything is well documented. A high street bank, however, would usually say no until you have built a UK income record.
Alternatives if Foreign Payslips Are Not Accepted
- Build a UK credit profile quickly by opening a UK bank account, registering for bills, and showing UK payslips.
- Use your UK-based partner’s income if applying jointly.
- Wait 6 to 12 months in UK employment to access more lenders.
- Save a larger deposit of 10 to 15 percent or more to reduce lender risk.
Final Thoughts
Foreign payslips can sometimes be used, but it is far from straightforward. For most people, the best results come from working with a specialist broker who knows which lenders accept foreign income and how to present the documents correctly.
At First Time Finance, we regularly help clients on visas use a mix of UK and overseas income to secure their mortgage, even when their bank initially said no.
Want to know if your foreign income can be used? Book a mortgage call and we will review your payslips and visa to see what is possible.
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