Remortgage To Fund Children’s House Purchase For Expat in Dubai

Remortgage To Fund Children’s House Purchase For Expat in Dubai

Area
London
Capital Raised
£450k

One of the main stumbling blocks our clients face on a day-to-day basis when it comes to property transactions is that their wealth is tied up in their main residence.  

And although they have the wealth to achieve their property ambitions – they don’t have the liquidity.  

Helping your children buy a house when they’re at University is a common example of this. If you don't have the cash to buy outright, options can seem limited. And your children certainly won’t be able to get a mortgage with no income – no matter how big the deposit.

This case highlights how a reorganising of your borrowing can open new possibilities - even if you have complex income - especially with an expert mortgage broker by your side. 

The Scenario 

Our client, a solicitor based in Dubai approaching retirement age, wanted to help his daughter studying at Edinburgh University avoid the run-down student rental accommodation she was faced with.   

His initial thought was to gift his daughter money for a deposit so she could take out a small mortgage, but with no income as a student, it wasn’t possible.

So, he came to us for a solution. 

The Solution 

The family home was a £2.3m property in Richmond in which his wife and son were living, with a small £200k mortgage outstanding via a mainstream bank. 

We explored his options, and provided the following: 

  • Remortgaged the London home on an interest-only basis, raising £450k to clear the existing repayment mortgage (£200k) 
  • The client could then use the remaining £250k along with some of his existing cash to purchase the Edinburgh property for his daughter 

The added flexibility in interest only: 

  • The interest-only mortgage meant there was no repayment commitment – they planned to downsize the London property when his son moved out, and would be able to comfortably repay the mortgage with the difference 
  • This freed up his cashflow in the meantime 
  • But it narrowed the lender pool, as not all lenders allow interest-only with the repayment method of downsizing 
  • And he also needed a specialist expat lender to accommodate his Dubai residency and Dirham earnings 

The foreign currency, interest-only factor, and logistics of this case made it a challenge, but without our solution, he’d have had to potentially draw his taxable pension funds to secure the property.  

Instead, we unlocked the value in his existing property to creatively finance both homes. 

Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you 

book a telephone appointment with one of our brokers today

Book Consultation

Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

Book Consultation

Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

book a telephone appointment with one of our brokers today

Book Consultation

Nick Kerley

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

  Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

Book Consultation

Specialist Car Finance

Broker Finance Team

Bristol

0203 900 4322

Do you need help sourcing car finance?

Speak to our finance team or book a team to speak that suits you. 

Book Consultation

Business Finance

Business Finance Broker Team

Bristol

0203 880 8890

Do you need help sourcing business finance?

We have extensive experience sourcing unsecured and secured finance for businesses. Book a free telephone consultation with our business loans broker team at a time to suit you.

book a telephone appointment with one of our brokers today

Book Consultation

Mortgages & Short Term Finance

Mortgage Broker Team

Bristol

0117 959 5094

Do you need help sourcing a UK mortgage?

We have extensive experience securing 1st and 2nd charge mortgages. Book a free telephone consultation with our mortgage broker team at a time to suit you.

book a telephone appointment with one of our brokers today

7 Reasons why you should use a specialist mortgage broker »

Book Consultation

Development Finance

Broker Team

Cardiff

0117 959 5094

Do you need help sourcing UK property finance?

We have extensive experience securing UK development finance. Book a free telephone consultation with our team at a time to suit you.

book a telephone appointment with one of our brokers today

Book Consultation

Expat and Foreign National Mortgages

Broker Team

Bristol

+44 203 900 4322

Do you need help sourcing UK property finance?

We have extensive experience securing UK mortgages for clients based outside the UK. Book a free telephone consultation with our team at a time to suit you.

book a telephone appointment with one of our brokers today

Book Consultation

Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

Are you looking for a similar type of property finance?

Get in touch today and find out how I can help.

Book Consultation

Bridging Team

Clifton Private Finance

Bristol

0117 959 5094

Are you in need of a similar type of property finance?

Book a free telephone consultation with one of our bridging specialists today and see how we can help you.

 Book a free telephone consultation with me at a time to suit you

Book Consultation

Sam Baker

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you 

  Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

Book Consultation

Fergus Allen

Senior Finance Broker

Cardiff

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.

Book a free telephone consultation with me at a time to suit you

 Book a free telephone consultation with me at a time to suit you, clifton private finance

Book Consultation

Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you 

Free telephone consultation service, Clifton Private Finance

Book Consultation

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. customDatabaseField-8455

Mathew Phillips

Senior 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.

Book a free telephone consultation with me at a time to suit you

 Book a free telephone consultation with me at a time to suit you, clifton private finance

Book Consultation

Alex Chambers

Senior Private Client Adviser

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.

Book a telephone consultation at a time that suits you:

telephone consultation service, Clifton Private Finance

Book Consultation

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. Book a free telephone consultation with me at a time to suit you.

 Book a free telephone consultation with me at a time to suit you, clifton private finance

Book Consultation

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

View Profile »

 Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

Book Consultation

Contact Us