The Intermediary – February 2026 - Flipbook - Page 82
B RO K E R B U S I N E S S
Case clinic
Case Clinic
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GEN H
C AS E ON E
Professional with foreigndenominated savings
client is looking to buy a flat worth
£285,000 with deposit of 20%. Their
deposit is held partly in a UK savings
account and partly in an account overseas in
Canada, where they previously worked.
They earn approximately £48,000 in the UK and
have been a resident here for over 14 months. They
have a thin but clean UK credit file and use their
UK current account daily. However, they hold no
loans or credit cards.
They also need to transfer the remainder of
their deposit to the UK prior to completion of
their purchase.
A
FOUNDATION
We accept funds from Canada, subject to
understanding the source and providing evidence
of transfer and origin and eligibility depends on
their profession.
If they qualify under our Professional range,
an enhanced affordability up to 6x income could
apply. Otherwise, our Key Worker range is also an
option, and offers up to 5.5x income.
However, on our standard terms (4.5x income),
the loan may fall short.
Firstly, we would recommend that they move their
deposit over to a UK bank account as soon as they
can. We would also need to see the money in their
account and see an explanation regarding how
they accumulated those funds.
Assuming they are a UK national, this case would
be acceptable subject to all of our normal checks.
If they are a foreign national, however, we would
need to see a valid visa at the point of application
and to take a look at their credit profile.
This is an ideal circumstance for the broker to get
in touch ahead of the application to chat through
the details and try to get any necessary exceptions
in place.
THE STAFFORD BS
We credit check rather than credit score, so
a limited credit history is acceptable for us.
Deposits originating outside the UK are generally
accepted, provided that the funds are held in the
applicant’s UK bank account before the application
is submitted.
As part of the application process, an
explanation of how the funds were acquired must
also be provided.
BUCKINGHAMSHIRE BS
The society is unable to accept any deposit from
overseas, however, the society could lend to 90%
loan-to-value (LTV).
In addition, in order for this case to be
acceptable, the applicants would also need to be
returning British citizens.
HARPENDEN BS
UNITED TRUST BANK
United Trust Bank (UTB) requires applicants to
be resident with a credit footprint in the UK for
at least the last three years, so unfortunately, we
would not be able to help this applicant.
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The Intermediary | February 2026
This is certainly a case that the Harpenden Building
Society could consider.
However, we would need the source of deposit
to be referred to our underwriters early on in the
process in order to ensure it is acceptable.
