{"id":14082,"date":"2021-08-25T13:23:05","date_gmt":"2021-08-25T05:23:05","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized-ae\/uk-expat-living-in-australia-leveraging-uk-property"},"modified":"2023-09-13T12:49:17","modified_gmt":"2023-09-13T04:49:17","slug":"uk-expat-living-in-australia-leveraging-uk-property","status":"publish","type":"post","link":"https:\/\/backup.articusfinance.com\/ae\/case-studies\/uk-expat-living-in-australia-leveraging-uk-property","title":{"rendered":"UK Expat living in Australia Leveraging UK Property for Overseas Purchase"},"content":{"rendered":"<p style=\"font-size: 15px;\"><span style=\"font-family: Verdana, Geneva, sans-serif; color: #134f5c;\"><strong>The case in brief<\/strong><\/span><\/p>\n<p><!--more--><\/p>\n<ul>\n<li>Client:\u00a0British Expat\/ living in Australia<\/li>\n<li>Property type: Leverage capital to purchase an overseas residence<\/li>\n<li>LTV: 70%<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Releasing equity from the UK to use abroad can be fraught with difficulty. Many private mortgage lenders are uncomfortable with clients taking released capital out of the UK<em>. <\/em>This is the issue that we discovered with our client who was looking to leverage capital in order to fund the purchase of a residence in Australia.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Also, to find out more about property finance for overseas clients, explore our page\u00a0<span style=\"color: #45818e;\"><u><a style=\"color: #45818e;\" href=\"https:\/\/backup.articusfinance.com\/ae\/uk-mortgages-for-residents-in-switzerland\" rel=\"noopener\">UK Mortgages For Foreign Nationals<\/a>.<\/u><\/span><\/span><\/p>\n<h2 style=\"color: #134f5c; font-size: 15px; font-family: Verdana, Geneva, sans-serif;\"><strong>Our client<\/strong><\/h2>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Our client had recently relocated to Australia with their existing employer. The client intended to keep his current property in the UK as it had sentimental value, whilst also providing an additional source of income. However, the client was also looking to purchase their own residence in Australia and required capital for a mortgage deposit.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">In order to fund the purchase of a property in Australia, the client was hoping to leverage 70% on his UK property. The client had only just moved to Australia and so there were potential difficulties with the lack of long-term residency in their new country of residence. Australia is also a tough jurisdiction due to their tax laws.<\/span><\/p>\n<h2 style=\"color: #134f5c; font-size: 15px; font-family: Verdana, Geneva, sans-serif;\"><strong>Our solution<\/strong><\/h2>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">As with sourcing any <a href=\"https:\/\/backup.articusfinance.com\/ae\/expat-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">expat mortgage<\/span><\/a>, particularly when it involves releasing capital to take out of the UK, there were several hurdles for us to clear.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">In the first instance, our client had only recently expatriated to Australia. Many mortgage lenders require a minimum of 6 months residency in the country. Australia\u2019s tax laws are also tough to navigate, with only certain private mortgage lenders offering the flexibility required.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Most pertinently, the client intended to take the released capital out of the UK, something which most private mortgage lenders are not comfortable with.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Ultimately, we created a bespoke mortgage deal with a niche-building society. We negotiated a <a href=\"https:\/\/backup.articusfinance.com\/ae\/high-loan-to-value-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">high loan-to-value mortgage<\/span><\/a>, as well as competitive rates. The lender became comfortable with all the previously mentioned problems, even though it was slightly off the traditional mortgage criteria. We were able to secure a 70% loan-to-value mortgage, as the client had requested.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Leveraging finance to fund the purchase of a property abroad can be difficult. Lenders need to be certain that the client\u2019s profile is suited, particularly if they do not meet other criteria such as length of residency. As a leading international mortgage broker, we specialise in securing <span style=\"color: #45818e;\"><a style=\"text-decoration: underline; color: #45818e;\" href=\"https:\/\/backup.articusfinance.com\/ae\/expat-mortgages\" rel=\"noopener\">UK mortgages for British expats<\/a><\/span> and can help to release equity. <a href=\"https:\/\/backup.articusfinance.com\/ae\/contact\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">GET IN TOUCH TODAY<\/span><\/a>.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief<\/p>\n","protected":false},"author":1,"featured_media":14083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[62],"tags":[],"class_list":["post-14082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies"],"acf":[],"jetpack_featured_media_url":"https:\/\/backup.articusfinance.com\/wp-content\/uploads\/2023\/01\/brick houses in the UK.jpg","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/posts\/14082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/comments?post=14082"}],"version-history":[{"count":1,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/posts\/14082\/revisions"}],"predecessor-version":[{"id":20661,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/posts\/14082\/revisions\/20661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/media\/14083"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/media?parent=14082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/categories?post=14082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ae\/wp-json\/wp\/v2\/tags?post=14082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}