The case in brief
- Client: US National & Resident
- Property type: Buy-To-Let Bridging Loan
- Property value: £1,000,000
- Loan Amount: £640,000
- LTV: 64%
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Our client
In this case, we were approached by an existing client – a US national and resident -, seeking to purchase a property in their home town – Chicago. They currently owned a buy-to-let property in South London and were looking to use the equity within to purchase the US property.
For more information on property finance for international clients, explore our page on UK Mortgages for US Residents.
Our solution
The client needed to move quickly in order to finalise their US property purchase. Our broker recognised that this unique case required in-depth knowledge of the market and a strategic approach. We advised a short-term bridging loan to release the equity quickly whilst at the same time started the process for the client to move onto a ‘standard’ buy-to-let lender. Acquiring a property through a bridging loan offers several advantages, such as expedited completion, flexibility, and a short-term solution.
At Articus Finance, we specialise in assisting US residents in securing financing for their UK properties, even when their financial profile may not align with traditional norms. As exemplified in this case. Ultimately, we successfully secured a mortgage deal with a bridging lender, completing the transaction in under a month. The client was able to purchase the US property and we subsequently remortgaged the bridge onto a more preferable buy-to-let product.
Whether you are approaching the end of your current mortgage product or looking to explore your current financial options, Articus Finance can assist you in achieving your mortgage goals.