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

 

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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