Try this...

When asked by my American company if I would take a 5% pay cut "for the team" I said I would love too, however I am in the process of renewing my mortgage which requires me to have an income of three times my total mortgage amount, this 5% pay cut would take me under this threshold and therefore I would lose my house. So sorry, while I really want to be part of the “team” I cant lose my house.

Worked a treat.