UK Mortgage for British Expat Earning in Cayman Islands Dollars

UK Mortgage for British Expat Earning in Cayman Islands Dollars

Area
Sussex
Capital Raised
£300k

The Scenario

Our client was a UK expat living and working in the Cayman Islands, looking to secure a mortgage on a UK residential property in sussex for his family to be based at.

The family was selling their current Cayman Islands residence and down-sizing to fund the deposit for their new UK home, and they had already accepted a reliable offer on the property.

Our client was employed as a High Court Judge, and had a lengthy contract of employment in place providing him with a secure income stream to back his borrowing.

However, although he was a high earner pulling in over £200k a year net of tax, he was earning in Cayman Islands Dollars and not US Dollars - and this was causing an issue when applying through typical expat mortgage lenders.

It’s a foreign currency that’s seen as higher risk to a lot of high-street lenders:

  • There’s a likelihood of currency fluctuations
  • There’s a higher risk of fraud with international currencies
  • It can be harder to verify overseas employers and sources of income

And, as he’d been out of the UK for roughly 20 years, he had no traceable UK credit rating so was struggling to get past some lenders’ early vetting checks.

The Solution

The biggest hurdle for this case was our clients’ foreign income, so we approached specialist lenders that we knew had the expertise and resources to handle it.

The lender we settled on has specialist underwriters in place that could appreciate our clients’ unique income and see the value in their application.

We knew they’d go the extra mile to get our clients the finance they needed, and they also took a view on their lack of a UK credit history.

More information on uk expat mortgages, Clifton Private Finance

In addition, our client was close to 60 years old but wanted a term of 10 years or more for their UK mortgage – and this was also limiting their borrowing options.

We managed to negotiate a 10 year term while still keeping rates low, and were able to use their projected pension income at retirement as leverage for preferable terms.

As is usually the case with complex mortgage applications - the process was not straightforward. But our adviser was on the case to iron out the hiccups and push the case through when needed.

Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

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George Abouzolof

Finance Broker

Bristol

0117 403 3444

Do you need help sourcing your own property finance?

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

book a telephone appointment with one of our brokers today

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Bridging Team

Clifton Private Finance

Bristol

0117 959 5094

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

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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 

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Fergus Allen

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.

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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 

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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

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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.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

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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.

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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 

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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.

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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. customDatabaseField-8455

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