Case study: How we helped a US couple with their own business relocate to the UK while securing a mortgage.
Case summary:
Client type: US nationals relocating to the UK
Occupation: Self-employed buinsess owners
Country of residence: USA
Income: US Dollars (USD)
The client:
Our clients were a married couple relocating permanently from the United States to the UK. They owned a successful US therapy practice, which they planned to continue running remotely after the move, serving their existing clients online while working across different time zones.
Although financially well established, they had only recently arrived in the UK and had a limited UK credit footprint.
The couple had already committed to relocating and wanted to purchase their long-term family home rather than rent while establishing themselves in the UK.
Their income would continue to come entirely from their established US business, earned in US Dollars, while their mortgage and living costs would now be based in the UK.
The situation:
The income challenge:
Rather than relying on UK payslips or self-employed accounts, the lender needed to understand the financial performance of an established US business using American tax returns, prepared by a American accountant.
The majority of lenders are uncomfortable with overseas self-employment and so presenting the couple's income in a format that satisfied UK underwriting requirements was essential.
Our solution:
Before approaching lenders, we reviewed the clients' US tax returns, business accounts, income structure, supporting financial documentation and future plans.
We presented a clear picture of the business, how it operated, how clients would continue to be served remotely and why the move to the UK would not adversely affect the business's long-term viability.
By carefully matching the case to lenders experienced in assessing international self-employed income, we were able to demonstrate affordability using their US earnings rather than relying on a conventional UK-employed approach.
Our client’s outcome:
The couple successfully secured a residential mortgage on their new UK home shortly after relocating.
By presenting their overseas business and income in a way lenders could readily assess, we were able to overcome the challenges of limited UK credit history and foreign self-employed income.
They were able to settle into their new life in the UK while continuing to operate their successful US therapy practice, giving them the confidence that both their business and home ownership plans could move forward together.
Employment structure: Employed by own business
Business: US-based therapy practice, operated remotely
Main challenge: Affordability assessment based on US business income
Mortgage arranged by bespoke negotiation
The credit history challenge:
Having only recently arrived in the UK, the couple had a limited UK credit footprint.
Many lenders place significant weight on an applicant's UK credit footprint, so working closely with lenders who had experience of internationally mobile clients was key to finding a solution.
The affordability challenge:
The lender needed confidence that the couple's overseas business would continue to generate sustainable income after their move to the UK.
This meant demonstrating not only the historic profitability of the business, but also that it could continue operating successfully across international time zones without materially affecting future income.