First time buyer - UK non-tax paying citizen working overseas - requiring a buy to let mortgage

I was approached by a first time buyer looking to invest in a buy to let property in the UK. He was working overseas on a contract, earning Euros and not paying tax in the UK.

However, he was technically considered a UK resident since he returned to the UK at least once every week. The rental income from the buy to let he wanted to buy did not meet lenders rental calculations, impacting his chance of securing a mortgage. Using our network of lenders, I was able to find a lender who was willing to:

a) Accept foreign income.
b) Provide a mortgage to a first time buyer for a buy to let property.
c) Take personal income into account, to bump up the rental income.

The outcome was that my client received the loan amount he required to purchase his dream buy to let home.


Lisa Ray – Senior Financial Consultant