Client Overview
The client was a US National living and working in the United States, employed in a senior corporate role. They were looking to purchase a residential property as a long term investment and to use when in the UK.
Due to their overseas residency and income structure, the client required specialist advice to secure a suitable remortgage solution. Click here for more information on the different types of services we provide for expats or download our expat/foreign national guide.
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The Challenge
The client wished to purchase a UK residential property valued at approximately £1.1 million.
Key challenges included:
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Non UK residency / citizenship
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Income paid in a foreign currency
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No options with high-street lenders
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A requirement for a competitive rate at a high loan to value
- A requirement for an interest only mortgage
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A need for clarity around affordability and deposit requirements
As a non-UK citizen, access to UK lenders is more restricted, particularly when seeking a high loan-to-value, interest-only mortgage. We have plenty of examples of how we have assisted overseas clients with an interest only mortgage in the past. Take a look at this case study where we advised an Italian national living in Singapore.
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The Articus Finance Approach
Articus Finance conducted a detailed assessment of the client’s circumstances, including:
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Overseas employment contract and income verification
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Currency considerations and lender stress testing
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UK credit profile and asset position
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Long-term plans for the property
We then identified a shortlist of specialist foreign national mortgage lenders active in supporting clients based in the US and structured the application accordingly.
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The Solution
Articus Finance successfully arranged:
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A £880,000 loan amount with a specialist lender – representing 80% LTV
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A competitive fixed-rate product to provide payment certainty
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An interest only product
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A streamlined process managed remotely from start to finish
The transaction completed smoothly despite the client being based overseas throughout the process.
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The Result
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Successful UK property purchase completed on time
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Improved rate certainty in a changing market
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Minimal disruption despite the client being based overseas
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A clear long-term mortgage strategy aligned with the client’s plans. Are you overseas and looking for a UK mortgage? Get in touch with one of our brokers today.