{"id":14047,"date":"2021-09-28T00:00:00","date_gmt":"2021-09-27T16:00:00","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized-ch\/self-employed-hong-kong-entrepreneur-investing-in-permanent-uk-residence"},"modified":"2023-09-14T17:00:28","modified_gmt":"2023-09-14T09:00:28","slug":"self-employed-hong-kong-entrepreneur-investing-in-permanent-uk-residence","status":"publish","type":"post","link":"https:\/\/backup.articusfinance.com\/ch\/case-studies\/self-employed-hong-kong-entrepreneur-investing-in-permanent-uk-residence","title":{"rendered":"Self-employed Hong Kong entrepreneur investing in permanent UK residence"},"content":{"rendered":"<p><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: Hong Kong\u00a0national &amp; UK resident<\/li>\n<li>Property type:\u00a0Residential purchase<\/li>\n<li>Property value: \u00a31.4 million<\/li>\n<li>Loan Amount:\u00a0\u00a31 million<\/li>\n<li>LTV: 71%<\/li>\n<\/ul>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">As a self-employed <a href=\"https:\/\/backup.articusfinance.com\/ch\/foreign-national-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">foreign national<\/span><\/a>, investing in a UK property via a regular high street lender is a non-starter. This is particularly true if the applicant does not have a significant history of UK business accounts to support such an application. This was the case with our Hong Kong national client, who had lived in the UK and created a successful business over 2 years of residency.<\/span><\/p>\n<p>&nbsp;<\/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 was a <a href=\"https:\/\/backup.articusfinance.com\/ch\/uk-mortgages-for-hong-kong-residents\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">Hong Kong national<\/span><\/a> who had lived in the UK for two years, initially on an entrepreneurial visa. During this time, he set up his own business helping Hong Kong nationals to relocate to the UK. As a relatively new business, our client\u2019s company marginally broke even in their first year due to the setup costs involved. Their year 2 accounts, however, were much more profitable and proved that the business was viable in the long term.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">In addition to this, our client intended to bring their deposit over from Hong Kong, which adds further complexity to a foreign national mortgage application. The client was also looking to achieve a competitive rate on a significant mortgage value of \u00a31 million.<\/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 any <a href=\"https:\/\/backup.articusfinance.com\/ch\/self-employed-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">self-employed person<\/span><\/a>, proving that their income is sustainable in the long term is crucial to the success of a mortgage application. This becomes particularly challenging when we could only use his latest years accounts. We sourced a building society that specialises in self-employed mortgages with one year&#8217;s accounts. They were happy to accept the client\u2019s situation and were satisfied that the business was viable.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Additionally, we ensured that the lender was comfortable with the fact that our client had only been a resident of the UK for 2 years and was providing their deposit from overseas. Ultimately, we achieved a mortgage of \u00a31 million against a property value of \u00a31.4 million at highly competitive market rates.<\/span><\/p>\n<p style=\"font-size: 13px; text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Foreign nationals residing in the UK can encounter a number of stumbling blocks when looking to invest in a property. This is particularly true when the person has a limited account history. As experts in foreign national mortgages, we deal with a number of non-UK nationals looking to invest in UK properties, each with their own unique challenges. <a href=\"https:\/\/backup.articusfinance.com\/ch\/contact\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">GET IN TOUCH TODAY.<\/span><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief<\/p>\n","protected":false},"author":1,"featured_media":14048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[70],"tags":[],"class_list":["post-14047","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\/residence with lush gardens.jpg","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14047","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=14047"}],"version-history":[{"count":1,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14047\/revisions"}],"predecessor-version":[{"id":21025,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14047\/revisions\/21025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media\/14048"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media?parent=14047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/categories?post=14047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/tags?post=14047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}