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Getting a UK mortgage with foreign income.

Early_Retire_Free

Early_Retire_Free Posts: 76 Forumite

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2 April at 5:54PM in House buying, renting & selling

We have been looking for a mortgage at very low LTV (25%) an thought we would have no trouble getting a mortgage as I have index linked pension income from overseas (EURO denominated). That income is about £4,000 per month against a mortgage payment of around £1,000.

However, no UK lenders seem willing to touch us which seems completely out of kilter with the risk.

Any suggestions?

I used to be Marine_life .....but I can't connect to my old account

0

Comments

born_again Posts: 23,771 Forumite

2 April at 6:03PM

Mortgage broker will have access to other lender who may be will to take it on. You have not mentioned age, which also may be a factor in declines.

Life in the slow lane
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Early_Retire_Free Posts: 76 Forumite

2 April at 6:13PM

https://forums.moneysavingexpert.com/discussion/comment/81947891#Comment_81947891

It has been through a broker. I'm 61.

I used to be Marine_life .....but I can't connect to my old account
1
theartfullodger Posts: 15,986 Forumite

3 April at 11:57AM

Speak to a number of brokers.be polite, calm, friendly.
E.g. I had a BTL mortgage expiring at age 80+. (Paid it off early)

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sheramber Posts: 24,484 Forumite

3 April at 12:07PM

You say ‘we’.
Is that your total income ?
Lender will also look at your outgoings to assess affordability.

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