We take a flexible and commercial approach to ex-pat and foreign national mortgages.
We worked with a broker to help an American national based in Europe who wanted to remortgage an apartment in London. The property was vacant and being marketed for sale, with a valuation of £7 million. The client wanted to borrow £3.5 million and, although he was a successful real estate developer, he had no credit record in the UK.
We lent the required amount, on a two year term, with interest serviced monthly. The Early Repayment Charge on the product was only three months and so, if the client was able to sell the property in this time, he would be able to redeem the loan from the fourth month with no charge.