Mortgage on return to UK

Forcedexpat

I am a British citizen, working for a British company in the middle east. Until now everyone over here has been paid monthly into their UK bank account. However, owing to a change in employment law here, we are being forced to open a local bank account to receive our pay in local currency. The vast majority of British employees here have come over for the soul reason of raising a good deposit for a house.

If they salary is paid into a local account, in local currency, and then transferred to a UK bank account would this have an impact on a mortgage decision on return to the UK on completion of contract?

The reason I ask is the concern that there will be no proof of salary payments into a UK bank account. Just a monthly money transfer.

kingstreet

Yes. It will be an issue for many lenders who are reacting to the European MCD from this weekend by refusing to accept income not in sterling.