Seafarer mortgage for UK yacht crew paid in Euros

Area
Dyfed
Capital Raised
£217K

The Scenario

This client had been directed to our experience in setting up mortgages for seafarers. He and his wife had found their dream first-home for £310K: a smallholding in west Wales, with space to bring up their two-year-old and the baby on the way.

He’s chief engineer on a chartered classic 3-masted superyacht in the Mediterranean, earning €72,000 a year tax-free.

Like many boat crew, he was unclear about what advantages his tax-free earnings might give him as a buyer, and whether he’d be eligible for a UK mortgage at domestic or expatriate rates.

The Solution

We were able to clarify his eligibility for the HMRC Seafarers Earnings Deduction.

The  couple were looking for a five-year fixed rate, because – with their wage-earner’s extended absences for work – they didn’t want to be renegotiating their mortgage in just two years’ time.  We found them a rate of under 2% on a 25-year term: they’re delighted.

Read more about seafarers’s mortgages here

 

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.

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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