Monday, 24 August 2015

Case Study: £2.6m 50% LTV Expat Buy to Let Remortgage

Need a million pound mortgage? We have the private banking contacts to provide a tailored solution. To discuss this or any other large mortgage case, please contact us.

Case profile

We were approached by a client who required a re-mortgage on a buy-to-let house in London valued at £2.6m, releasing 50% of the equity to fund further investment purchases. The complicating factor was that the client was a European national working as a Partner in a major multinational company in another European country.

The client ideally required a facility that would also provide funding for the onward purchases, preferably providing a flexible drawdown facility, allowing him to pay interest only on the released funds, not on the full facility. We therefore needed to find a lender who would: accept applications from expatriates and who would take into account the strong rental income of the property as, based on personal income alone this would be difficult to place.