The case in brief
- Client: Maltese national
- Property type: Residential purchase
- Property value: £4.5million
A foreign national looking to invest in a UK property with very little financial footprint can be a difficult prospect. This can be compounded when the client owns multiple businesses with highly complex structures, meaning that the proof of income can be difficult to convey. This was the case with our foreign national mortgage client who wished to purchase a property in the UK.
Our client
Our client was a Maltese national who was looking to purchase a property in the UK to use for family visits. The client wanted to take advantage of low UK interest rates to acquire a competitive mortgage rate against a property value of £4.5 million.
There were a couple of hurdles to negotiate with this client. The first was the fact that he had very little financial footprint in the UK, making the acquisition of a foreign national mortgage at a competitive rate difficult. The client was also self-employed, owning multiple businesses. The businesses all had complicated structures, using offshore holding companies, ruling out the majority of lenders.
Our solution
Articus Finance needed to approach a lender who would not only be comfortable with the client’s minimal UK financial footprint but also one who had expertise in dealing with the complex structure of the client’s businesses. We secured the mortgage solution through a private bank with whom we hold a successful, long-standing relationship.
As part of the negotiation process, the bank required £1 million as Assets Under Management to sit with them. They also gained a full understanding of the complex holding structure of the client’s businesses and were satisfied that the income streams were sufficient to repay the mortgage over the term. We also managed to achieve a mortgage with sub 2% rates, which was a fantastic result when considering the client had very little UK footprint.
When a foreign national is looking to acquire property in the UK, there are inevitable difficulties involved. The added layers of complexity, in this case, required the expertise of a specialist mortgage broker such as Articus Finance. As an expert in dealing with complex cases utilising our trusted network of private lenders, we have the necessary credentials to source a highly competitive mortgage for almost any scenario. You can learn more about our services or speak to a broker today.
