London mortgage for foreign national plus maternity leave income

Area
North London
Capital Raised
£770K

Sometimes, mortgage applications shouldn’t be as difficult – or as restrictive – as they’ve been made to seem. It’s our job to simplify the essentials and get the maximum, most affordable borrowing for our clients.

The Scenario

Our clients are a tech couple working for Google in London – she’s British, he’s American, resident in the UK on a spousal visa with "indefinite leave to remain."

She was on maternity leave, and they were using the time to buy a £1.17M five-bedroom house in Finchley, close to excellent schools and the greenery of Hampstead and Highgate.

They had a mortgage offer in hand, but frankly the rate wasn’t impressive; was the lender being deterred by his American citizenship?

They also wouldn’t take the wife’s income into account because she was on maternity leave, so the amount the couple could borrow didn’t leave anything left over for renovations.

The Solution

We found a lender who would take the wife’s full income into account once we provided them with her previous payslips and an employers’ letter confirming her return-to-work date.

We knew that at this loan to value most lenders would be satisfied with the husband’s visa status. And for a loan of this size we could achieve 5x income, giving the couple an additional £200K for renovations.

The final deal was a five-year fix at 1.94%, with a free valuation and cashback towards the legal costs.

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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