UK commercial portfolio mortgage for British expat in Canada

Area
Birmingham
Capital Raised
£1.5M

The Scenario

Our UK-national client already owned a portfolio of high street commercial property leases in the UK, and was looking to expand his holdings by buying a similar portfolio of shops, offices and retail showrooms, valued at £2.4M.

The issues that made this an interesting challenge:

  • He’d just sold his UK home and now spends 90% of his time in Canada. (Fewer lenders are willing to lend to expats resident outside the UK.)
  • Some lenders look at the decline of high street footfall and don’t like lending on high street properties.
  • Plus this was a share purchase, rather than a direct property finance deal. Our client had just formed a new UK limited company funded by a director’s loan to purchase the shares of the portfolio holding company.

The Solution

The lending would be going to one entity with the properties held by another entity.

Even the business development manager of the bank we took this proposal to, who was keen to write the business, admitted: "I don’t know that we’ve seen a deal like this before."

The client had come to us with a funding proposal from another broker who’d assured him that a rate close to 6% was the best that could be achieved. Plus their proposed lender was going to load on an extra 0.5% for expatriate lending, and charge a 2% lender fee.

We managed to secure lending at less than half that rate: at 2.5%. With no loading for expatriates, and just a 1% lender fee.

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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