The case in brief
- Client: Italian National & Switzerland Resident
- Property type: Flat in Central London
- Property value: £850,000
- Loan Amount: £520,000
- LTV: 61%
Regardless of whether your current mortgage term is coming to an end or you are looking to explore more competitive alternatives, in Articus, we work daily to help non-UK residents refinance in the UK. We were recently approached by an existing Italian client who was looking to refinance their UK property which we secured the original debt for.
To find out more about property finance for overseas clients, explore our page UK Mortgages For Residents in Switzerland.
Our client
Our client had moved to Switzerland with their family for work purposes. Therefore, they thought renting their UK property for the next 5 years would be an ideal option to benefit from the extra monthly income.
Their current fixed rate product was coming to an end and they were looking for the most competitive rates for overseas residents.
Their actual lender was refusing to extend the loan due to the client’s new residential status. Naturally, they also wanted to secure this as quickly as possible with interest rates rising
Our solution
Fortunately for our client, Articus specialises in overseas borrowers. We approached a lender that we knew would be fine that the client was not British and had an overseas residency, whilst offering a competitive solution.
The lender was able to offer a 5-year fixed rate in line with the client’s needs and guaranteeing a surplus monthly income.
Articus is a whole of market brokerage and therefore has access to every lender/institution – ensuring the best solution for our clients. We work on the side of the client, not the bank.
Get in touch with us today to discuss your mortgage needs.
Sometimes the solution is simple. However, with our brokers’ guidance, experience and ability to see the entire market, the solution could have easily been recovered.