London Mortgage For Off Plan Riverside Property For Non-UK Citizen Living In USA With Complex Income

Area
London
Capital Raised
£500K

Non-UK nationals may face additional income stress-testing when looking for mortgage finance on UK property. You need to access an expat lender who will take a flexible view.

The Scenario

Our client is a 64 year-old dual-nationality Irish-American, living in San Francisco, who has a profitable mixed property portfolio in California (four apartments and six commercial units) earning an income of £800K+ a year.

She was looking to buy off-plan a £750K riverside apartment on the Thames to use as a home base when in London. (She also owns homes in Ireland and Spain.)

The issues in accessing mortgage lending were her age and unearned income, and the fact that expat lenders are often unwilling to consider income from rented residential properties – because of the risk of voids.

The Solution

We found a lender with a good track record of working with foreign nationals, who was willing to give our client a 15-year mortgage. They were persuaded to consider the income on unencumbered rented-out residential properties.

Four of the apartments were mortgage-free, with income records that satisfied the lender’s stress-testing.

With an offer agreed our client was ready to put down the deposit on her luxurious riverside bolt-hole.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

James Palmer

Senior Associate

London

0203 900 4322

Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Have a similar situation? I specialize in bridging finance and can provide creative solutions for your property funding requirements.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.

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