Paid in dollars

645bill

Hi
I work offshore and I am paid in dollars, is there any morgage companies out there that would give me a mortgage to purchase a house in the UK. I am a UK resisdent and British
My credit rating is excellent

Bill

kingstreet

Yes. Typically, a lender will require the salary to be paid into a UK bank account, or the overseas branch of a UK bank.

If it isn't, there will be some additional documentation requirements evidencing it being transferred to the UK and converted to sterling.

A decent broker should be able to place this, subject to the rest of the case being acceptable.

Mortgage_Mark_2

As KS says, provided it's paid into a UK account then should be easy enough.

The only issue you would have is if it were paid into a non-UK account and was not subject to UK tax. Unless you were a seafarer. Although most brokers and lenders I speak to have no idea how being a seafarer works!

645bill

Hi
Thanks
I will probably get a lot of replys

Bill

645bill

Hi

My money is paid into an Offshore Account

Mortgage_Mark_2

645bill wrote: »

Hi

My money is paid into an Offshore Account

I'd speak to a broker sooner rather than later. May well still be ok but there are several lenders who will categorically say no to this.

645bill

Do you know any that except the dollar

Mortgage_Mark_2

645bill wrote: »

Do you know any that except the dollar

Yes, there will be several I would think.

Boozer

I got a mortgage while being paid in dollars, the biggest problem i faced was the fact that due to it being a foreign currency they reduced my salary by 25% to cover for currency fluctuations, so obviously the amount they would lend me went down a lot.
I spoke to a few places and decided to have the 3 months bank statements paid into the UK before applying, as not doing that would require a lot more paperwork and effort, so this way seemed the easiest.