Santander Mortgage Problems

hellydilly

My partner is English, moved back to the UK from Denmark 12 months ago and is now buying a house in the UK. It has taken him 12 months to rebuild his credit history because even though he had an excellent credit history in Denmark, it's not recognised in the UK.

He is still employed by his Danish company so is paid in Danish kroner. All his salary documentation is in Danish.

This is causing huge problems in getting a mortgage. He has been approved in principle by Santander but because he cannot provide a P60 the amount they have offered is £23k less than he needs. He has submitted the Danish equivalent of the P60 but that will not suffice.

Where does he go from here? He is in danger of losing the house as the vendors are threatening to put it back on the market as it is taking so long to secure a mortgage.

AnotherJoe

Try a broker who specialises in mortgages like this?
However, are you sure it's the the lack of a P60 ? I'd have thought that would be more likely to be a straight refusal.
There's usually (from what I read, IANAB) a decrementing of a salary paid in aforeign currency to take account of exchange rate fluctuations so going on the maximum possible amount you can borrow on a straightforward conversion of salary is unlikely to be possible in any case.

hellydilly

Yes we had an Agreement in Principle and then we were told that Santander said Mark could get the full amount if he could supply an English P60! Clearly he cannot so what now?

amnblog

Payments in Foreign Currencies, though never easy is a lot harder today due to new EU rules from March of this year.

Santander only allow Foreign Income from four currencies in addition to GBP and DKK is not one of them.

How did you come to apply to Santander?

hellydilly

We are using an independent mortgage broker. Mark has been paid in GB£ for the last 5 months via a Payroll company who organise his tax etc but clearly we cannot get a P60 for 12 months' income.

Do you know of a lender that allows DKK income?

Thanks

amnblog

Why is your broker not managing this?

hellydilly

He is but I think he may be struggling. Do you know which lenders deal in DKK?