Foreign currency mortgages - Income checker

Which currencies do UK lenders accept?

US Dollars (USD) remain one of the most commonly accepted foreign currencies for UK mortgage applications. We regularly help clients earning in US Dollars across a wide range of countries, including the United States, the Middle East, Africa and Asia.

Euros (EUR) are also extremely common. We frequently arrange mortgages for clients earning in Euros while living in France, Spain, Portugal, Germany, Italy, the Netherlands and many other European countries.

Because of their stability, liquidity and widespread international use, many lenders that accept foreign currency income are comfortable assessing applications from borrowers paid in US Dollars (USD) and Euros (EUR).

Many lenders are also comfortable with applicants earning in Singapore Dollars (SGD) and Hong Kong Dollars (HKD), both of which are well-established international currencies that specialist lenders encounter regularly.

Other currencies commonly accepted by UK lenders include Swiss Francs (CHF), Australian Dollars (AUD), Canadian Dollars (CAD), Norwegian Krone (NOK), Swedish Krona (SEK) and Danish Krone (DKK), although the number of lenders willing to consider each currency and the way they assess exchange rate risk can vary considerably.

Do all lenders accept the same foreign currencies?

Some publish a list of accepted currencies, typically including well-established currencies such as US Dollars (USD) and Euros (EUR), and often Singapore Dollars (SGD), Hong Kong Dollars (HKD), Swiss Francs (CHF) and Australian Dollars (AUD).

Others specify currencies or jurisdictions they won't accept, usually because of concerns around financial crime, anti-money laundering (AML), sanctions or regulatory standards.

Some lenders don't publish fixed lists at all. Instead, they assess each currency individually, taking into account factors such as the country's regulatory framework, currency stability, international AML standards and membership of a Financial Action Task Force (FATF).

Europe

  • Euros (EUR) are widely accepted by UK lenders because they are commonly earned across stable Eurozone economies with well-established financial systems.

  • Swiss Francs (CHF) are widely accepted because they are associated with Switzerland's stable economy, strong financial sector and internationally recognised banking system.

  • Norwegian Krone (NOK) is accepted by many lenders because it is earned in a stable, high-income economy with a strong regulatory framework.

  • Swedish Krona (SEK) is accepted by many lenders because it is earned in a mature, well-regulated economy with strong financial institutions.

  • Danish Krone (DKK) is widely accepted because it is earned in one of Europe's most stable and well-regulated economies.

  • Czech Koruna (CZK) is accepted by some lenders because it is earned in a developed European economy, although lender appetite is more limited than for Western European currencies.

  • Polish Złoty (PLN) is accepted by a number of lenders because it is earned in a growing European economy, although fewer lenders support it than major Western European currencies.

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North America & The Caribbean

  • US Dollars (USD) are widely accepted because they are earned across many of the world's largest and most stable economies and international financial centres.

  • Canadian Dollars (CAD) are accepted by many lenders because they are earned in a stable, highly regulated economy with longstanding economic ties to the UK.

  • Mexican Pesos (MXN) are accepted by a limited number of lenders because of greater currency volatility and a more cautious approach to the jurisdiction.

  • Lender appetite for currencies linked to smaller jurisdictions varies. Some lenders regularly review the economic and regulatory environment of these countries, meaning their willingness to accept certain currencies can change in response to factors such as FATF assessments, sanctions, exchange controls or wider geopolitical developments.

Middle East

  • UAE Dirhams (AED) are accepted by many lenders due to the UAE's growing regulatory standards, strong financial sector and large UK expat population.

  • Kuwaiti Dinars (KWD) are accepted by many lenders because they are earned in a wealthy, stable Gulf economy with a significant UK expatriate workforce, particularly in the energy, healthcare and engineering sectors.ption

  • Saudi Riyals (SAR) are accepted by many lenders because they are commonly earned by UK professionals working in Saudi Arabia's energy, healthcare, construction and engineering sectors.

  • Qatari Riyals (QAR) are widely accepted because they are earned in a wealthy economy with a significant international expatriate workforce.

  • Omani Rials (OMR) are accepted by a number of lenders because they are earned in a stable Gulf economy, although lender choice is more limited than for the UAE.

  • Bahraini Dinars (BHD) are accepted by some lenders because they are earned in a well-established Middle Eastern financial centre.

Asia-Pacific

  • Singapore Dollars (SGD) are widely accepted because they are earned in one of the world's leading financial centres with a highly regarded regulatory environment.

  • Hong Kong Dollars (HKD) are accepted by many lenders because they are earned in a major international financial centre with strong banking infrastructure.

  • Australian Dollars (AUD) are widely accepted because they are earned in a stable, highly regulated economy with close economic ties to the UK.

    However, some lenders restrict lending to applicants resident in Australia rather than the currency itself.

  • Japanese Yen (JPY) is accepted by many lenders because it is earned in one of the world's largest and most developed economies.

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  • Chinese Yuan (CNY) or Renminbi (RMB) is accepted by a limited number of lenders because of additional regulatory, documentation and cross-border transfer considerations.

Africa

  • South African Rand (ZAR) is accepted by some lenders because South Africa has a well-developed financial sector, although currency volatility reduces lender appetite.

  • Kenyan Shillings (KES) are accepted by a small number of specialist lenders because, although Kenya has one of Sub-Saharan Africa's strongest and most diversified economies, many lenders apply enhanced underwriting to income earned in the region.

  • Nigerian Naira (NGN) is accepted by very few lenders because exchange controls, currency volatility and financial crime concerns significantly restrict lender appetite.

  • Ghanaian Cedis (GHS), Mauritian Rupees (MUR), Ugandan Shillings (UGX), Tanzanian Shillings (TZS), Zambian Kwacha (ZMW) and Namibian Dollars (NAD) are accepted by a limited number of specialist lenders. Appetite varies between countries, with factors such as economic stability, currency volatility and jurisdiction-specific lending policies influencing how lenders assess applications.

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