US expat buy-to-let remortgage with £90K debt consolidation

Area
Oxfordshire
Capital Raised
£389K

The Scenario

Our clients have been living in San Francisco for four years, where she’s the development director for an American media multinational and he’s running his UK consultancy remotely.

They wanted to remortgage their home back in the UK, which they’ve rented out. Their current mortgage was a modest £296K on a house valued at £1.29M, and they were looking to capital raise £92K to pay off their international relocation expenses and the cost of school fees for their three children.

The Solution

This finance was going to be a challenge because most lenders put a ceiling of £30-£40K on the amount of debt consolidation they’re happy for a remortgage to pay off.

We took our clients’ application to a lender we do a lot of work with, whose established ceiling for debt consolidation limit is in this range.

The amount we were looking for was well beyond their set criteria, but this is the advantage of bespoke lending. The business development manager we work with was able to look at:

  • our clients’ very substantial earnings
  • the low LTV
  • the strong evidence for how the capital had been spent

and say “this is business we should be happy to do.”

She also bent the rules when it came to the application process. The bank has an online application template that every application must be loaded into. But our clients’ multinational employer doesn’t issue individualised employment letters: their records are also online. The bank was prepared to make a first-ever exception to their process.

To speed up the application, our advisor arranged to meet up with the couple when they came over on a family visit, to verify their identification documents in person.

The result: a two-year fixed rate deal at a very acceptable expat rate.

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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