The case in brief
- Client: French National living in Switzerland
- Loan type: Buy to let Topslice
- Property value: £675.000
- Loan Amount: £ 505.000
- LTV:74%
Articus Finance recently assisted a French national living in Switzerland who had the objective of expanding their UK property portfolio by acquiring a new property. The client owned a buy-to-let (BTL) property valued at £675,000 in North London. However, the rental yield on this property was below expectations, prompting the need for additional financing. Lenders will ‘stress test’ the rental income to ensure it will still cover the mortgage if rates were to rise.
The client faced a dual challenge of not only seeking a lender who could consider their overall financial stability and income but also navigating the complexities of securing a mortgage as a foreign national.
For French citizens interested in investing in the UK, visit our page UK mortgages for French citizens. Here, you will find comprehensive information and resources to assist you in making informed decisions about your investment options.
Our solution
Articus Finance, known for its expertise in tailoring mortgage solutions for foreign nationals, undertook the task of identifying a suitable lender. The concept of a top-slicing mortgage, where the lender considers both the property’s rental income potential and the borrower’s personal financial stability, was central to the solution.
Looking to purchase or remortgage a property as an overseas resident? Download our guide Foreign National and Expat Guide for more information.
Articus Finance successfully managed to connect with a Lender specialising in Top Slice mortgages, also one that was open to working with foreign nationals living abroad. This lender recognised the value of the client’s overall financial position, which encompassed not only the rental income from the BTL property but also the client’s personal income and assets.
As a result, Articus was able to approve a mortgage loan of £505,000 against a £675.000.00 property to support the client’s investment goals.
Conclusion
This case demonstrates Articus Finance’s specialisation in securing mortgages for foreign nationals and its ability to navigate complex mortgage scenarios.
If you are a foreign national looking for a mortgage that factors in your unique financial circumstances, Articus Finance is here to assist. Contact us today to explore how we can help you achieve your property investment aspirations, regardless of your residency status or location.