Interest only mortgage on a UK property for a British expat

Area
Oxford
Capital Raised
£1.6m

The Scenario:

A British expat living in Hong Kong was planning to return to the UK to live and work. He wished to purchase a residential property worth £2.25million in Oxford for himself, his wife and their children. As a high net worth individual working for an investment management firm, he was earning in excess of £1million per year.

Unfortunately, no high street lender would offer him a mortgage because he was an expat who was a non-dom for tax purposes, and therefore not a UK tax payer, and he was being paid in a foreign currency. This meant he needed to find an alternative solution to borrow the capital he needed.

Our Solution:

Using our connections with private banks, we were able to quickly secure a 20-year interest-only mortgage of £1.6million for the client with a 70% LTV at an attractive rate of interest. Because private banks assess cases on an individual basis, the client’s residency, tax status and currency of income were not an issue.

Due to our established relationship with the bank in question, we were able to get the case submitted and approved by the bank’s credit committee within just 7 working days.

We also negotiated the option for the client to make capital reductions in future so he could reduce the rate of interest further. For every 5% reduction in the capital, the interest rate would fall in accordance with the bank’s tiered rates at that time.

This allowed the client to complete the purchase of his new property and he was so impressed with our service that he then asked us to find a buy to let remortgage deal for his £1.2M London property, which we were happy to handle for him.

Are you in a similar position?
To investigate your finance options call our team on +44 203 900 4322 or fill in our callback 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.

Contact Us