Mixed currency income & HTB

jraff

Hi all,

Our current situation is: offer accepted on a £550k property, £110k from the government in the form of the help to buy equity loan and £85k. We need 65% LTV, I earn £60k in the U.K. but my wife is employed in the Philippines and paid roughly £48k with 50% paid in USD and 50% in PHP.

We are speaking to a broker who says that the only mortgage we can get is with Darlington, but the rate is not very competitive (2.39% fixed for 2yrs or 2.99% for 5yrs). 

So we are just wondering if anyone is has been in the same situation as us, and could offer any advice for potential alternatives for maybe getting a better rate?

Cheers!

haras_n0sirrah

Is it affordable without using the php?
I know a number of lenders who will accept usd but not sure about php from the top of my head. 

jraff

Yes, it would be doable with just the dollar portion. But what we are struggling with finding a lender that does both foreign currency and help to buy mortgages. 

haras_n0sirrah

jraff said:

Yes, it would be doable with just the dollar portion. But what we are struggling with finding a lender that does both foreign currency and help to buy mortgages. 

There are lenders who do foreign currency income and help to buy
Speak to a broker - either get one recommended by a friend or search the boards on here and contact a broker who you feel can help
Mortgage brokers who post here are not allowed to contact forumites but most of us are more than willing to respond to pm's asking for help.

jraff

We have been speaking to a broker that came back with the Darlington mortgage, and it's actually even worse than he originally said - 2.99% for 2 years fixed. But I will send you a PM now, cheers.