{"id":14315,"date":"2020-11-03T10:05:27","date_gmt":"2020-11-03T02:05:27","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/non-classifiee\/1-million-uk-mortgage-for-us-resident"},"modified":"2023-08-11T14:12:36","modified_gmt":"2023-08-11T06:12:36","slug":"1-million-uk-mortgage-for-us-resident","status":"publish","type":"post","link":"https:\/\/backup.articusfinance.com\/fr\/case-studies\/1-million-uk-mortgage-for-us-resident","title":{"rendered":"\u00a31 million + UK mortgage for US resident"},"content":{"rendered":"

Securing a UK mortgage as a US resident is far from easy. When trying to arrange finance to purchase a UK property, lenders will look to see if an applicant has a \u2018footprint\u2019 \u2013 that is, a proven history of credit in the country. This reassures the lender that an applicant has a track record of managing borrowing successfully. But when British nationals who have lived abroad for many years attempt to secure a mortgage, this can pose serious problems.<\/p>\n

Whether you\u2019re ready to secure a UK mortgage as a British expat in the US, or simply want to learn more about UK property for expats, our guide can help. Download<\/em> Maximising your borrowing as an expat or foreign national.<\/span><\/em><\/a><\/p>\n

<\/p>\n

The client:<\/strong><\/strong><\/h2>\n

Our client was a British national but had been a long-standing resident of the US. As he planned to move back to the UK in the future, he was keen to buy a beautiful \u00a31.2 million home ahead of his return, and therefore needed a UK mortgage for a US resident. Having located this property, there was a real urgency on behalf of the client to act quickly, as he was in competition with another buyer.<\/p>\n

To secure the property, this client required an interest-only mortgage of just under \u00a31 million. However, having not lived in the UK for some time, he had a very limited UK lending footprint \u2013 which immediately made his mortgage application challenging. As he was earning abroad, he needed a lender who could offer based on his entire salary in dollars to maximise his affordability. He also needed a portion of his discretionary bonus income to be taken into consideration.<\/p>\n

Our solution:<\/strong><\/strong><\/h2>\n

This was a complicated case \u2013 from the client\u2019s limited UK lending footprint to the tax issues that inevitably arise when securing finance for US citizens. Fortunately, finding UK mortgages for US residents is something the Articus Finance team is well versed in doing. We work with overseas clients on a daily basis and have an intimate knowledge of the lender market, meaning we knew exactly where to place this case.<\/p>\n

We were able to present terms back to the client within an hour of receiving his initial inquiry. After this, we had an application submitted in just three days \u2013 and our relationship with the lender meant we were able to have the case prioritised to fast-track the application. The final outcome was that we secured a sub 2% rate for a five-year fixed term mortgage on an interest-only basis, which aligned perfectly with the client\u2019s plans.<\/p>\n

The case in brief:<\/strong><\/strong><\/h2>\n
    \n
  • \u00a0<\/em>\u00a31.2 million property purchase<\/span><\/li>\n
  • UK mortgage for British US resident<\/li>\n
  • Interest-only finance<\/li>\n
  • Mortgage for UK property for applicant earning in US dollars<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Securing a UK mortgage as a US resident is far from easy. When trying to arrange finance to purchase a UK property, lenders will look to see if an applicant has a \u2018footprint\u2019 \u2013 that is, a proven history of credit in the country. This reassures the lender that an applicant has a track record […]<\/p>\n","protected":false},"author":1,"featured_media":10338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[68],"tags":[],"class_list":["post-14315","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\/Standard Stock 5.jpg","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/posts\/14315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/comments?post=14315"}],"version-history":[{"count":0,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/posts\/14315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/media\/10338"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/media?parent=14315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/categories?post=14315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/fr\/wp-json\/wp\/v2\/tags?post=14315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}