Case Study: EU National with Euro Income Remortgages to Fund Home Extension
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Overview
Our client, an EU national living in the UK, needed to remortgage their home to release equity for a major extension. Although they were a UK tax resident, their income was paid in euros — something that many lenders either reject or heavily discount.
The Challenge
The client faced several challenges:
Overseas income: Many lenders apply a 20–25% “haircut” to foreign currency income, reducing borrowing capacity.
Equity release for building works: They needed to maximise the amount available to fund a large-scale extension.
Specialist criteria: Finding a lender who would accept euro income with minimal reduction was key to making the project viable.
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Our Solution
We used our specialist knowledge of foreign currency income to:
Identify a mainstream lender who accepted euro income with only a 10% haircut, rather than the typical 20–25%.
Present clear evidence of the client’s UK tax residency and income stability to strengthen the application.
Structure the remortgage to release the full equity required for their planned extension, at a competitive rate.
This approach allowed the client to proceed with their plans without compromise.
The Outcome
We secured the remortgage and released the equity the client needed, enabling them to move forward with their home extension project. By finding a lender who treated their euro income fairly, we avoided the shortfall they would have faced with other lenders.
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What We Can Do for You
If you’re paid in a foreign currency but live in the UK, we can help you unlock the borrowing you need. From remortgaging for renovations to purchasing a new home, we know which lenders to approach to maximise your affordability.
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YOUR HOME MAY BE REPOSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
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APPROVED BY THE OPENWORK PARTNERSHIP ON 12/08/2025