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Help With Mortgage Provider For UK Resident With Foreign Income?


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Hi folks, 

 

We are looking at remortgaging my husbands BTL flat (in his name only which is how we'd like to keep it) to release the equity to finance my BTL purchases. However, my husband is paid in Norwegian Krone as he works offshore, although he has always been a UK resident.

 

Our mortgage broker advises that Santander & Barclays won't lend due to Norwegian income & Natwest would only lend the additional capital if my husband were to be named on the new BTLs - which we want to keep in my name only!

 

He therefore advises the only option is to have my name added to my husband's current BTL property title & new mortgage - as I have UK income. However, there may be stamp duty implications for doing so & irrelevant of that we wanted to keep this property in my husbands name only.

 

Im thinking there must be lots of investors who live in the UK but work abroad & so have a foreign income, so am surprised that our mortgage lender options on this basis are so restricted.

Particularly, as Norway is such a stable country & my husband has been employed with the same company for 11 years! 

 

So I guess my question is - can anyone advise on mortgage lenders who do not have a problem with foreign income? 

 

Any help much appreciated!

 

Thank you.

 

 

 

 

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  • 2 weeks later...

Hi there,

 

Thanks for the tips - we're now in the process of remortgaging with HSBC, looks like they only deal direct so probably why our broker didn't highlight them...so far they seem to have no issue with the foreign income aspect....fingers crossed! 

 

Thanks again :-)

Kim.

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