The case in brief
- 100% UK mortgage for Dubai expat
- Complex financial background
- 10-year fixed term at 1.5%
- 50% AUM requirement
Arranging a UK mortgage for a British expat in Dubai, or anywhere for that matter, is rarely straightforward. Add a complex financial background into the mix, and it can become almost impossible to secure the right deal – unless, of course, you have access to a flexible lender.
Whether you’re ready to secure a UK mortgage as a British expat in Dubai or simply want to learn more about UK property for foreign nationals, our guide can help. Download Maximising your borrowing as an expat or foreign national.
The client
Our client was a British national now living in Dubai, looking for a UK mortgage as a Dubai expat. He owned a property in the UK valued at £9.25 million, which had previously been his personal residence and was now a buy-to-let.
This individual was looking to release equity from his property to invest and further diversify his growing portfolio. To this end, he hoped to secure a 100% mortgage against the property – which was already a huge ask. However, his situation was made even more difficult by the nature of his finances.
Having previously been a very senior figure in the banking world, our client had left his role to continue building his investments. This individual’s investment strategy was for growth, rather than maximising his income – and he had assets in excess of £25 million, including an extensive amount of high-value land ripe for development.
He also had a £5 million stock portfolio held with a private bank, with which he had a long-standing relationship. Yet despite all this, most banks would be unable to offer finance to this individual – because on paper, his income was unable to support a large loan.
Our solution
One of the biggest barriers that ultra-high net worth (UHNW) clients face when securing property finance is finding a lender who can account for incredibly complex financial situations. Combined with this client’s need for a 100% mortgage, this was certainly a challenging case.
Our team approached a private bank based in Luxembourg, noted for its flexible attitude and fantastic service. We know this lender is extremely focused on building long-term relationships with exceptional individuals and would likely be open to starting a conversation with this client, given his ambitious long-term plans.
Happily, we were correct – and this bank was able to offer our client the 100% mortgage he required at substantially lower rates than he could have hoped to achieve elsewhere. Offered on a 10-year fixed term basis at 1.5%, this required placing AUM with the lender equivalent to 50% of the loan amount. However, as some of our client’s assets were not liquid, the bank agreed that he could transfer the AUM over a period of 24 months – which was an excellent outcome.
This is a fantastic case study in how the right lender knowledge can lead to a strong outcome, no matter the complexity of an individual’s finances or ambitions. GET IN TOUCH TODAY.