Foreign national UK mortgage with Swiss franc earnings

Area
Surrey
Capital Raised
£1.44M

The Scenario

Our client is a HNW Dutch national who works as an international contracts negotiator for a Swiss-based management services company.

He lives near Zurich but was university-educated in London and wants a British education for his young family. They were looking at properties in the £2M price bracket outside Farnham, on the Surrey-Hampshire border, as a residential base for his wife and child.

The Solution

Our client is paid in Swiss francs, and has no formal ties with the UK; he had no UK address or credit footprint, and all his living costs are met by his company. His residency qualifications are established by his passport and level of income.

In a matter of days from being instructed we had lending agreement in principle from a private bank for a foreign national mortgage, so our client could feel confidence in offering on a £1.8M property they were interested in.

They had already made preliminary enquiries direct to lenders: our challenge had been to better the rate they had been offered. At 2.64% for an 80% LTV five-year fix we delivered the kind of deal a professional negotiator likes to see. (This lender was prepared to lend on a higher LTV had it been required.)

In addition, this lender opened all their UK banking facilities to our client, including multi-currency UK accounts, and insurances covering all family members.

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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.

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