Halifax Foreign Income Mortgage Guide: What You Need to Know
DIRECTOR AND MORTGAGE ADVISER
Specialist broker for high-earning professionals and complex income cases.
If you’re a professional earning in a foreign currency and planning to buy or remortgage in the UK, you may have already discovered that many high street lenders simply won’t consider your income. Halifax is one of the few mainstream banks that accepts certain foreign currencies — but the rules are detailed, and getting it right first time matters.
At Kite Mortgages, we help busy professionals structure and present their applications in the best possible way, whether Halifax is the right fit or another lender can offer more favourable terms.
Request your fee free mortgage consultation today. No obligation, just sound advice.
Halifax’s Approach To Foreign Income
Halifax will consider non-sterling income on purchase, remortgage, further advance, and product transfer applications where a full affordability assessment is required. Key points:
Currencies Halifax Accepts
US Dollar (USD)
Euro (EUR)
Australian Dollar (AUD)
Indian Rupee (INR)
Swiss Franc (CHF)
Only one foreign currency can be used per application (though it can be combined with sterling income).
Income Types Accepted
Employed income: basic salary, bonus, overtime, commission
Self-employed: LLP partner income (must be confirmed in writing by a finance director)
Contractors: foreign currency contracts accepted if backed by contract and supporting evidence
Not accepted: other self-employed income from non-UK businesses, or “other income” types.
How Halifax Treats Foreign Income
Income is keyed in original currency; Halifax converts to GBP.
20% haircut applied (10% for bonus income).
Exchange rate fixed at Decision in Principle (DIP) stage — your borrowing power won’t change if rates move afterwards.
Documentation Halifax Requires
Payslips in original currency (or remuneration letter if payslips only show GBP).
All documents must be in English.
Contractors need contract + payslips/bank statements.
Seafarers: must earn at least £75k p.a. (or £500/day) to be considered.
Residency Rules
Applicants must be UK residents with a UK “primary address”.
Income can be paid into overseas accounts — no requirement for a UK bank account.
UK tax deduction not required on payslips.
How We’ve Helped Clients Like You
These clients faced similar challenges - here’s how we helped them secure the right deal.
Strengths And Limitations Of Halifax
Where Halifax Works Well
Wide professional acceptance: employed, contractors, and LLP partners.
Fair exchange-rate treatment: rate locked at DIP stage.
Mix of sterling and one foreign currency allowed.
Where Halifax Falls Short
Only five currencies accepted.
Haircuts reduce borrowing power (up to 20%).
Limited acceptance of self-employed income (LLP only).
Seafarer and complex scenarios tightly restricted.
Alternatives To Halifax
Halifax is not the only option. Depending on your circumstances, other lenders may offer more favourable treatment:
NatWest – Accepts 16 currencies and applies no haircut, using 100% of converted income.
HSBC – Accepts hundreds of currencies (via matrix) but applies haircuts of 10–30%. Also one of the few lenders to consider non-UK residents.
Santander – Accepts 4 currencies, but applies the largest haircut at 25%.
Private banks – For larger loans (£1m+), they often provide more flexibility around income and FX treatment.
Speak To An Expert Today
Get in touch for a fee free, no-obligation chat about how we might be able to help you.
Why Work With A Broker Instead Of Going Direct?
Choosing Halifax directly may seem straightforward, but the headline rate is rarely the full story. The real value comes from structuring the loan correctly around your goals:
True cost of borrowing – A product with a lower rate but higher fees may cost more overall. We compare total cost, not just rate.
Flexibility of the mortgage – Different lenders vary on:
Overpayment allowances
Early repayment charges
Availability of longer terms
Interest-only or offset facilities
Structuring for your goals – The “best” mortgage isn’t always the cheapest. For busy professionals, it’s often the one that:
Keeps monthly payments manageable
Allows flexibility if bonuses are used for lump-sum repayments
Matches long-term plans (e.g., moving, career changes, future buyouts)
As brokers, we don’t just secure approval — we design the loan so it’s most appropriate for your financial life.
What Our Clients Say
Next Steps
If you’re considering Halifax for a foreign income mortgage, the details matter. The right preparation can mean the difference between approval and rejection.
At Kite Mortgages, we’ll:
Translate your income into Halifax’s framework.
Compare Halifax’s offer against other lenders.
Structure your mortgage so it genuinely works for your goals.
Request your fee free mortgage consultation today. No obligation, just sound advice.
FAQs
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Yes, but bonus income has a reduced haircut (10%).
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Yes, Halifax doesn’t require income to be paid into a UK account.
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No — payslips can show foreign tax (or no tax).
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Yes, foreign currency contractors can apply if income is evidenced by contract and bank statements.
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Only if earning £75k+ p.a. or £500/day.
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