{"id":13373,"date":"2023-04-06T15:49:51","date_gmt":"2023-04-06T07:49:51","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized-ch\/remortgage-on-4-2-million-property-for-saudi-arabia-resident-with-complex-income"},"modified":"2023-09-05T09:55:46","modified_gmt":"2023-09-05T01:55:46","slug":"remortgage-on-4-2-million-property-for-saudi-arabia-resident-with-complex-income","status":"publish","type":"post","link":"https:\/\/backup.articusfinance.com\/ch\/case-studies\/remortgage-on-4-2-million-property-for-saudi-arabia-resident-with-complex-income","title":{"rendered":"Remortgage on \u00a34.2 million Property for Saudi Arabia Resident with Complex Income"},"content":{"rendered":"<h2 style=\"font-size: 15px;\"><span style=\"font-family: Verdana, Geneva, sans-serif; color: #134f5c;\"><strong>The case in brief<\/strong><\/span><\/h2>\n<p><!--more--><\/p>\n<ul>\n<li>Client: Saudi Arabia national and UK resident<\/li>\n<li>Property type: London Property<\/li>\n<li>Property value: \u00a34,200,000<\/li>\n<li>Loan Amount: \u00a32, 940,000<\/li>\n<li>LTV: 70%<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Finding a UK mortgage for a Saudi resident is often difficult regardless of the circumstances. In the event that your current lender is no longer capable of providing financing, you may be compelled to swiftly secure a different agreement. Having the appropriate relationships with lenders is crucial for achieving a prompt resolution.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Whether you\u2019re ready to secure a UK mortgage as a Saudi Arabia citizen, or simply want to learn more about UK property for foreign nationals, our guide can help. <a href=\"\/ch\/guides\/expat-foreign-national\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">Download here<\/span><\/a>.<\/span><\/p>\n<h2 style=\"font-size: 15px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif; color: #134f5c;\"><strong>The client<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Our client was a self-employed businessperson who regularly travelled to the UK for business. His source of income comes from a well-established family-owned industrial business in his home country of Saudi Arabia \u2013 similar to many <a href=\"https:\/\/backup.articusfinance.com\/ch\/self-employed-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #45818e;\"><u>self-employed individuals<\/u><\/span><\/a>, they keep significant retained earnings within the business to reinvest.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Obtaining finance can be challenging in such situations, as an individual\u2019s actual wealth may not be accurately reflected on paper through their income.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">The client\u2019s current lender was unwilling to refinance their asset, leaving them in a tricky position. He was looking for a 70% <span style=\"color: #45818e;\"><a style=\"text-decoration: underline; color: #45818e;\" href=\"https:\/\/backup.articusfinance.com\/ch\/high-loan-to-value-mortgages\" target=\"_blank\" rel=\"noopener\">loan-to-value mortgage<\/a><\/span> on an <span style=\"color: #45818e;\"><a style=\"text-decoration: underline; color: #45818e;\" href=\"https:\/\/backup.articusfinance.com\/ch\/interest-only-mortgages\" target=\"_blank\" rel=\"noopener\">interest-only basis<\/a><\/span>. An interest-only mortgage adds to the complexity as most lenders would like you to either start paying the principal back or have an interest-only repayment strategy in the UK.<\/span><\/p>\n<h2 style=\"font-size: 15px; text-align: justify; color: #134f5c;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\"><strong>Our solution<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">At Articus Finance, we hold extensive expertise in finding UK property finance for individuals who are not domiciled in the UK and own assets through a corporate structure. Additionally, we have significant experience finding <span style=\"color: #45818e;\"><u>UK mortgages for Saudi Arabia residents<\/u><\/span>.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">We knew than an advanced <a href=\"https:\/\/backup.articusfinance.com\/ch\/private-bank-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #45818e;\"><u>private bank<\/u><\/span><\/a> would provide the best solution in this case. As a result, we approached a lender with whom we maintain an excellent personal relationship. Our direct communication with their credit team allowed us to speed up the process and obtain a prompt answer \u2013 which was ideal for the client given their time constraints.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">The lender was happy lending against a property owned by a Saudi self-employed citizen. Moreover, they had a representative in Saudi Arabia who was able to meet with the client. Ultimately, we were able to secure an interest-only mortgage at an appealing rate, ensuring that our client could refinance their property promptly. <a href=\"https:\/\/backup.articusfinance.com\/ch\/contact\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #45818e;\"><u>Get in touch<\/u><\/span><\/a> today to speak with one of our brokers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief<\/p>\n","protected":false},"author":1,"featured_media":13374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[70],"tags":[],"class_list":["post-13373","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\/04\/8.png","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/13373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/comments?post=13373"}],"version-history":[{"count":0,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/13373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media\/13374"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media?parent=13373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/categories?post=13373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/tags?post=13373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}