£1.2m interest only loan for expat property investor

Area
Bath
Capital Raised
£1.2M

The Scenario:

A British expat client based in Singapore was seeking a loan to buy an investment property for £1.6million in Bath. He was looking to borrow 77% of the purchase price on an interest only-basis and needed a flexible drawdown facility with no penalties.

The client was a high net worth individual earning in excess of £500k per year. However, he was a non-dom paying no UK tax, his salary was paid in Singapore Dollars and he had various complex income streams.

Because of these factors, plus the large loan size, high LTV and the need for an interest-only loan, no high street lender was willing to provide the necessary funds. 

Our Solution:

A deal was found with a private bank who specialises in expat finance. They were willing to lend the full £1.23 million the client required (77% of the £1.6m purchase price) on an interest only basis for 5 years.

The bank agreed to the flexible drawdown facility with no penalties at a very competitive rate of 2.75% (2.5% above the Bank of England Base Rate). We negotiated a 0.5% reduction in the interest rate after 2 years, provided a 20% reduction in the loan’s capital was made every year.

This highly competitive loan deal meant the client was able to move forward with their investment purchase while minimising the interest rate on their loan, maximising their return on investment.

Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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