Time was running out for our client, who had been turned down three times for a mortgage due to their foreign income. Fortunately, they found Simmonds Mortgage Services.
Understanding the challenge
Mr Lowe found Simmonds Mortgage Services via a Google search for foreign income mortgages in the south of England and London. Fortunately for both him and us, our website was easy to find due to our experience in this area.
Mr Lowe was looking to get a mortgage on a second home for dependent relatives. Despite being a British citizen and having a primary residence in the UK, he was struggling to find a lender because of his unique financial situation: he works in Indonesia and is paid in US Dollars.
People like Mr Lowe, who earn their income abroad, often struggle to get a mortgage in the UK because many lenders won’t accept foreign earnings. It’s not just about currency – it’s about proving affordability in a system that doesn’t easily cater to ex-pats. This is especially true for second properties.
Our approach
At Simmonds Mortgage Services, we go above and beyond for our clients, especially when they face unique challenges. We were determined to find a mortgage to allow Mr Lowe’s parents to stay in their family home.
We have extensive experience arranging foreign income mortgages, so we know the right lenders to approach. After a long consultation with a particular lender, they declined the application, which was disappointing. Undeterred, we moved swiftly to Plan B and secured a mortgage offer just in time.
The solution
We approached a small building society that was comfortable with using the client’s foreign income in full as part of their affordability assessment. To make it as convenient as possible for Mr Lowe, we compiled the supporting documents, including payslips, currency conversions, and employment references, and submitted the mortgage application. We were thrilled when the lender approved it very shortly after.
In Mr Lowe’s own words:
We had an amazing experience with Andrew and Amy from Simmonds Mortgage Services. After three failed mortgage attempts with a previous advisor, we found Andrew, who specialises in Foreign income mortgages. As I work abroad, we needed an expat/foreign income mortgage, and Andrew and Amy were fantastic throughout the whole process, making sure everything ran smoothly without any issues. Their expertise, communication and dedication really stood out, and they got us a great deal. We can’t recommend them enough, especially if you’re an expat looking for a mortgage!
Simmonds Mortgage Services: More Than Just Mortgages
Building genuine relationships with our clients is of utmost importance to us at Simmonds Mortgage Services. We go out of our way to understand each client’s unique needs and work tirelessly to find the best possible mortgage solution. To us, success is measured not just by securing competitive mortgages but by the peace of mind and security we bring to clients like Mr Lowe.
If you are having difficulty securing the right mortgage for your needs, let us help. Contact Simmonds Mortgage Services today, and let’s find the mortgage you deserve.