Foreign income for a mortgage?

WorkSavePartayy

Hi everyone! Just looking for a bit of help really to a question I have been trying to find the answer to for a while now. Before I go on I'm pretty pessimistic about the answers I'm going to get but here goes!

Can I use my foreign !income from Australia to get a mortgage in the UK? My main problem is I'm only on a working holiday (2 year) visa. There is a chance I could get sponsored though and there is years of work I the pipeline for the company. I have a good credit score and no debt. Hope for £90-100k in savings this time next year. And would love to be able to buy a house for between £280-320k.!

More than happy for people to flame me if they think it's way too optimistic, truth is I have absolutely no idea if it's possible. !I presume I would have to wait until I knew if the company I work for out here will sponsor me because otherwise it would be plain irresponsible to get a mortgage!

Thanks in advance

Jimbo1976

If you are living here in the UK, what is your income from Australia? is it trust or investment income?

If it is, you might be able to get a mortgage from a specialist lender, but if its earned income from when you were there and its stopped now then you will struggle. UK lenders are incredibly cautious with who they give mortgages to at the moment and there are lots of people who are being declined.

I would speak to a mortgage broker and they will ask lots of questions and will be able to give you a stronger indication

WorkSavePartayy

Sorry I'm currently working in Australia

Jimbo1976

Ah ok, makes more sense.

Do you work for the same company in Australia as you did in UK? Is it a blue chip multinational? Providing the income and employment stacks up you stand some chance as an ex pat getting a mortgage here in the UK

bigadaj

Got the impression from your other threads that you worked in jining, could be wrong but there's obviously little opportunity in the uk for similar work unless you're doing fido to Africa or similar.

Dependent on what you do your salary is likely to drastically reduce in the uk, probably halve from my contacts and research, so you need to take this into account, again more details of current work, salary etc will help

Miss_Havisham

Will your australian salary be in Aus $ or £ stg ? If Aus $ you will also have an exchange rate risk - if it goes the wrong way you would end us with less stg and not be able to meet your mortgage payments.

WorkSavePartayy

Done my own research and although I would have a small chance of getting a mortgage I think it would be too reckless as mortgage payments would be too high on a uk salary as Miss Havisham correctly noted. Thanks for the comments everyone