US Tech Employee Based in the UK Secures £2.58m Remortgage Using USD Income and Equity Compensation
A UK-based employee of a US technology firm secured a high-value remortgage using USD-denominated income and equity compensation. The solution involved moving to a private bank with a more pragmatic approach to foreign currency income and RSU vesting.
Client Snapshot
Profession: Software engineer, US technology firm
Location: United Kingdom
Property Type: Residential property
Property Value: £5,300,000
Mortgage Amount: £2,580,000
Loan-to-Value: c.49%
Income Structure:
USD base salary
USD bonus
RSUs (vested and unvested)
Key Considerations: Foreign currency income, equity compensation, private bank remortgage
Context
The client was a senior software engineer employed by a US technology company but based permanently in the UK. Total compensation was high but structured across multiple components, including USD salary, USD bonus, and equity awards with defined vesting schedules.
The objective was to remortgage an existing high-value property, moving away from an incumbent private bank whose proposed terms were no longer competitive or aligned with the client’s circumstances.
The Challenge
Mortgage affordability was complicated by several factors:
Income paid entirely in USD
Currency haircuts applied inconsistently by lenders
Significant reliance on equity compensation
Differing treatment of vested versus unvested RSUs
Many lenders either exclude equity compensation entirely or apply severe discounts, particularly where income is paid in a foreign currency. In this case, the incumbent lender’s approach resulted in unfavourable terms despite the client’s strong overall financial position.
Without a lender willing to assess income holistically, remortgaging options would have been limited.
Lender Strategy
Private banks were assessed based on their experience with:
US-based technology compensation structures
Foreign currency income
Equity awards with defined vesting schedules
A clear breakdown of base salary, bonus history, and RSU vesting was prepared, allowing income sustainability to be assessed rather than applying blanket exclusions. Particular focus was placed on demonstrating predictable vesting patterns rather than relying on speculative future equity values.
Several institutions were ruled out early due to aggressive currency haircuts or the exclusion of equity compensation altogether. A private bank with a more considered approach to RSUs and USD income was selected, allowing affordability to be assessed more accurately.
What We Can Do for You
Structure USD income clearly for UK lender assessment
Navigate differing lender haircuts on foreign currency income
Position RSUs and equity compensation in line with vesting schedules
Support remortgages involving private banks and complex remuneration
The Result
A remortgage of £2.58m was secured against a £5.3m property, using a private banking solution that reflected the client’s full compensation structure.
The outcome allowed the client to move away from unfavourable existing terms, with income assessed in a way that better aligned with long-term earning capacity rather than headline exclusions.
Why This Matters for Similar Clients
US tech employees based in the UK often assume that equity compensation and foreign currency income will be heavily discounted or ignored when refinancing. In practice, lender selection and how vesting is evidenced are critical.
Where income and equity awards can be demonstrated clearly and conservatively, private banks may offer significantly more appropriate solutions than standard approaches.
Request your fee free mortgage consultation today. No obligation, just sound advice.
FAQs
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Some can, though many apply currency haircuts. Treatment varies significantly between institutions.
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Approaches differ. Some lenders exclude RSUs entirely, while others may include vested or predictable awards with clear vesting schedules.
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Not always, but private banks are often better placed to assess complex remuneration at higher loan sizes.
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Yes. Terms vary widely, and alternative private banking solutions may be more appropriate depending on circumstances.
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7 Apr - Written By David Walsh
YOUR HOME MAY BE REPOSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
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