We take a flexible and commercial approach to ex-pat and foreign national mortgages.
We worked with a broker to help a 50 year old self-employed ex-pat living in Spain. The client wanted to raise funds on a buy to let property in England in order to purchase another property abroad. The unencumbered detached house in Kent was already tenanted and valued at £875,000. The client wanted to borrow £300,000 on a five-year term and wanted to service the interest.
The rental income was sufficient to cover the stress test for the loan balance, so we were able to mortgage the property, releasing the capital the client wanted to access.