Trying to find bank who will offer a Mortgage as I work in Denmark

saxo_appeal

Hi all, would love a bit of advice on trying to source a bank who will offer a Mortgage in my circumstances

At present I'm working for an Oil company and working Offshore, we were paying UK tax as our base was originally Aberdeen and paid from Guernsey. Just last our contract with ConocoPhillips ended so we moved down to Denmark on a new contract but have to pay into the Danish way of life which is 36.5% Tax and £10 social Security a month.

As I'm a resident in Scotland and now not paying UK tax this obviously isn't helping me due to the new policies which were started last month.

I came up against a brick wall with my own bank who will not offer me a mortgage because I'm not paying UK tax, Santander were however more lenient. They will offer me a mortgage but for example, a £100,000 mortgage they will only offer me £75,000, because I'm not paying UK tax they will take off 25%

I'm a first time buyer and next year will be my chance to finally get on the property ladder after many years of renting. This new policy has just angered me so much Im still a UK resident and it's not my fault the company I work for had to move away due to the climate, I can't see why the government have penalised people like myself when all we are doing is trying to find work but I still pump money into the UK as I spend all my money here....so unfair

Can anyone with the same experience help out with some banks? I'm actually surprised there isn't many threads on this

Thrugelmir

saxo_appeal wrote: »

They will offer me a mortgage but for example, a £100,000 mortgage they will only offer me £75,000, because I'm not paying UK tax they will take off 25%

More likely down to exchange rate fluctuations than tax. Danish Kroner has moved in a 15% wide band in past 12 months. That's nothing unusual and obviously could play havoc with affordability.

Andy_St

Hi.

We are in a similar situation to you in that i work offshore, though on Dive Boats not rigs so the tax situation is a little bit different. We used a broker for our Mortgage and he did say that most lenders refused our case as soon as they heard foreign income, however we have managed to get approval with Natwest. It might be worth speaking to them?

Andy

saxo_appeal

My situation is that my LOA is in Dollars and our head office is in Cooenhagen. My wage slips are in GBP and my wage when it hits my bank is in GBP, our wage department is in Guernsey.

I tried Natwest earlier Andy, and they too have told me that because Denmark is part of the EU they will not treat me any different if I was paying Tax in UK or anywhere else in the EU. She told me that all they would need is 3 months worth of wage slips and 3 bank statements and ID to make an application. I think this is great news and well done on Natwest, I will now be voting to stay in the EU

Andy_St

Great news i had been pretty stressed we wouldn't find anyone

saxo_appeal

I was going to try some other places just to make sure there isn't any other available places offering

Will wait and see once we have a good enough deposit, saying that, I noticed that Natwest is offering a 95% mortgage which is even better

dgtazzman

I work in merchant shipping as an officer. I work for a Dutch company, pay my social security in Holland and my income tax in the UK (though I am exempt as a seafarer of actually paying any income tax in the UK) as per EU tax laws. Wages get paid in EURO directly into my UK account.

I got a mortgage offer with HSBC, no hassle, went pretty much straight through. As mentioned, Natwest are also still doing foreign wage mortgages as is Santander. These are the only 3 I was able to find still willing to work with foreign income, though there might be more (smaller) lenders out there willing...

Do check before applying if they are OK with DK as they might not accept all foreign currencies...

saxo_appeal

Just one more thing to add guys,

I was on the phone to Bank of Scotland who I bank with and asked because I wasn't paying UK tax can I start a Help to Buy ISA, I was told their policy was No!

Yet when I then looked onto the .gov website, there was no where it stated that a customer had to be paying into the UK Tax system. So I then called Natwest who told me that this wouldn't be a problem. Surely if it's only a government bonus scheme and doesn't matter where you open the Help to Buy ISA, the Bank of Scotland should open an account also?

Anyone else opened an account with another bank?