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.

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

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 to discuss your situation at any time that's convenient for you.

James Palmer

Senior Associate

London

0203 900 4322

Are you looking for similar property finance? I specialise in development and commercial finance for Clifton - I can find creative and commercially effective solutions for your project.

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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