Santander accepting foreign income mortgage applications
Santander for Intermediaries is one of the few high street banks still accepting foreign income for mortgage affordability purposes.
When submitting a mortgage application the bank will expect the non-sterling part of the application to be calculated into pounds and reduced by 25% to allow for currency fluctuations.
Aaron Strutt, product manager at Trinity Financial, says: “Santander will want to know the currency you are paid in and the exchange rate on the day of the calculation.
“Santander does not offer expat mortgages, so you will need to be living in the UK but paid in a foreign currency. Borrowers must earn enough to secure a sufficient mortgage with the amount taken off for currency fluctuations.”
Santander will consider income generated from 28 countries across the European Economic Area. They include: Austria, Finland, France, Germany, Greece, Lithuania, Luxembourg, Malta, Spain, Ireland, Norway, Italy, Portugal and Poland. They will also look at Swiss Nationals.
For help to secure a mortgage if you are paid in a foreign income, call Trinity on 020 7016 0790.
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