European client with contract in sterling rather than euros?

[Boris4PM]

Apology accepted, I will look out for less naff questions from you in future.

Certainly, it's possible. However, clients will generally prefer that you take the currency risk, so it entirely depends on your leverage and how much you care. Personally, I find it acceptable/preferred to invoice in whatever currency the client wants because the currency risk is a small fraction of what I'm billing and it's a doddle with Wise.

Well, if it wasn't really for the way that lenders view contracts that mention Euros, I really wouldn't care if they were paying me in Euros. It's only an issue as I am hoping to remortgage soon and want to maximise my lender spread.

If you think the Euro will strengthen against sterling, then go for Euro billing. If you think the Euro will weaken, go for sterling billing. Be advised, you may not have a choice - that you might have to accept the currency the agency is offering.

I made about €3000 when Stirling dropped over the Brexit referendum. Happy days. Totally unplanned, btw.

Not really a matter of where I think the exchange rate will go. This is about meeting lending criteria for them mortgage folk.

Luckily no agent involved so can perhaps influence the client to word the contract in £. Let them take a hit on the currency fluctuations.

[Bodger]

I've come across this lending requirement before, it does narrow down your choice of lenders.

Now I'm not suggesting you could lie to a lender, or that you should...but it is possible to take your copy of the contract and amend the figure to be sterling. Your accounts will back up the amount you were paid. Don't mention to the broker / lender anything about Euros unless they ask.

[jmo21]

Now I'm not suggesting you could lie to a lender, or that you should...but it is possible to take your copy of the contract and amend the figure to be sterling. Your accounts will back up the amount you were paid. Don't mention to the broker / lender anything about Euros unless they ask.

Aye, mortgage fraud OP, that's the way to go!

[Martin@AS Financial]

There are a handful of lenders who will consider income that is not earned in sterling both on a contractor basis and working via a ltd co.

Something to be aware of is that some banks may apply a haircut to allow for currency fluctuations.

It's always important to be upfront with these things as a lender could plausibly ask to see your ltd co bank statement to demonstrate your invoices coming in as well as your contract.