Superfast seafarer mortgage: non-expat rate, in just 4 weeks

Superfast seafarer mortgage: non-expat rate, in just 4 weeks

Area
Devon
Capital Raised
£180K

Our seafarer client had been told he needed an expat mortgage, and had been quoted a rate of over 3%, with early repayment charges, hefty product fees and valuation costs.

In these situations, the savings that can be made with advice from an experienced mortgage broker are substantial.

The Scenario

He’s a marine IT specialist working around the world, who was buying his first property: a £212K cottage in Devon.

He earns £63K a year, paid in Euros by a yacht management company based in the Cayman Islands, and had been advised that he needed an expat mortgage

The Solution

Our client files UK tax returns, and claims his 100% Seafarers Earnings Deduction, so we were able to advise him that he’s eligible for a non-expat mortgage at UK-based rates: a five-year fix at 2.2%.

And he got the funding in four weeks: from application to money in his bank. Which is pretty damn fast for a residential purchase application.

How did we manage it? We understood what was important to our client. He was on the ball, and he had no credit issues. All his documents were ready, including his SA302 copies of his tax returns from HMRC for the last three years.

The lender we took his application to does Day One valuations, and only needed to see one payslip because of the low LTV.

Our client used one of the very experienced solicitors on our panel - we recommend them because they’re extremely efficient.

And our in-house case manager chased the application and kept our client informed all along the way.

Read our free guide to UK mortgages for seafarers

 

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

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.

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Bristol

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Scott Dutfield

Finance Broker

Cardiff

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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

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Carly Cheeseman

Head of International

Bristol

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Nick Kerley

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Cardiff

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Fergus Allen

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Jacob Phipps

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Bristol

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Jack Spillane

Finance Broker

Bristol

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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

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Alex Chambers

Senior Private Client Adviser

Bristol

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Luther Yeates

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Sam ONeill

Senior Finance Broker

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