No. Any income a tenant or guarantor receives that is not from a UK-based company does not count towards the amount assessed in the referencing report's affordability ratio.
If a tenant or guarantor fails this affordability test, we can't make our Rent Guarantee Insurance (RGI) offer to the landlord. It is still very much worth referencing tenants who you suspect will fail referencing due to their primary income being overseas income.
Don't forego referencing due to a lack of UK income
Although not part of the affordability test, overseas income is included in the referencing report. So even if a tenant fails the affordability test based on a lack of UK income, the landlord is able to make an informed choice on whether they want to accept the tenant.
Tenants and guarantors might well be able to afford the property when their overseas income is taken into consideration. Landlords will also receive a wealth of other information from the referencing report, such as referencing from previous landlords and employers.
More information
Look at other titles on RGI and referencing:
You can see further information on the cover Rent Guarantee Insurance provides here.