The case in brief
- Client: British-American National & UK Resident
- Property type: Residential Home
- Property value: £2.4 million
- Loan Amount: £1.8 million
- LTV: 75%
Here at Articus finance, we predominately work with high-net-worth borrowers who respect and value the company’s experience and want to ensure a straightforward process and outstanding service. The following case involves arranging a high-value mortgage for a foreign national.
To find out more about property finance for overseas clients, explore our page UK Mortgages For US Citizens.
Our client
Our client was a dual-nationality British-American with income earned from rental properties in the UK. They were looking for a UK mortgage as a British Expat. More specifically, they intended to remortgage their UK property from a residential mortgage to a buy-to-let mortgage. Their grandson was due to be born in the following months so they would not have the time to travel back and forth from the UK. However, they wanted to retain the property, as opposed to selling it, as they intended to move back to the UK in approximately 5 years’ time.
The challenges in accessing mortgage lending were their age and the fact that Expat lenders are often unwilling to consider income from rented residential properties – due to the enhanced risk of voids.
Our solution
In this instance, we were able to find a lender with a good track record of working with British Expats and willing to give our client a 5-year mortgage. Articus Finance works closely with this lender on a regular basis and was able to negate the risks mentioned above. The lender was happy to lend on the basis that the income generated from the buy-to-let residential property sufficed.
We ultimately obtained a buy-to-let mortgage of £1.8 million against a property value of £2.4 million.
Articus Finance specialises in helping High Net Worth and international citizens secure the best mortgage option in the UK. If age has been an issue or you have an unusual income stream and need to secure lending on your property, Articus is the expert for you. You can contact us today.