
UK national working in the US, paid in dollars but not classed as an expat mortgage borrower
When is an expat UK mortgage applicant not an expat? When an experienced mortgage advisor takes the time to get inside the details of their personal circumstances.
The Scenario
Our client is a UK national who works in construction for a major US power corporation. Since 2005 he’s been dividing his time between the company HQ in Virginia and rural Northamptonshire where his children are.
He has been renting accommodation in both places, but wanted to feel more settled in his Northamptonshire home and managed to persuade the owner to sell to him.
It’s a four-bedroom, picture-postcard thatched cottage (and it has actually featured on a postcard…), valued at £695K.
He’s a high-earner: with regular bonuses he’s bringing home upwards of £50K a month.
He wanted to borrow 85% of the purchase price, but his high-street bank of 32 years turned him down. They didn’t like his foreign-currency earnings: as far as they were concerned he was an expat.
The Solution
We looked at his regular pattern of return trips to pick up his life in the UK and were confident he should qualify for a UK-resident borrower, despite his US$ earnings.
The lender we took his application to needed a bit of convincing. Initially they wanted to see all his boarding passes for the past year to confirm his time back in the UK, but we persuaded them that the records of his credit card spending would be sufficient.
We had the offer for his two-year fixed mortgage, at a very competitive 1.71%, in hand within 10 days.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
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
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
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
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.
Book a free telephone consultation with me at a time to suit you
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
Jack Spillane
Finance Broker
Bristol
0117 959 5094
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
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.
Book a telephone consultation at a time that suits you:
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. Book a free telephone consultation with me at a time to suit you.
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
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.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214