The case in brief
- Client: British National living in Kuwait
- Loan type: Second Charge mortgage
- Property value: £1 m
- Loan Amount: £125,000 for home improvements
Articus Finance recently had the opportunity to assist a British national living in Kuwait with their mortgage needs. The client had relocated to Kuwait for work purposes. The client owned a property in the UK with a current value of £1m and sought financial assistance for home improvements.
The client’s situation presented a unique challenge: As an expat, they encountered limitations in their ability to borrow funds due to their residency status in the Middle East. This restriction meant that traditional mortgage routes were not viable for them. In order to secure the funds they needed for their home improvement project, Articus made sure to explore alternative options.
For additional information on expat mortgages, please explore our Expat Page.
Our solution
Articus Finance leveraged its expertise in foreign national and expat mortgage services to connect with a suitable lender who specialised in working with expats. Recognising the client’s strong financial position and the value of their property, Articus Finance engaged with a lender who was willing to provide a second charge mortgage of £125,000 for the client’s home improvements.
This second charge mortgage allowed the client to access the funds required for their home improvement project, despite the restrictions on borrowing typically faced by expats, without having to exit their current 1st charge mortgage worth £600,000. The lender appreciated the client’s financial stability and the property’s value, making it possible to offer a solution that aligned with the client’s needs.
Looking to purchase or remortgage a property as an overseas resident? Download our guide for more information.
Conclusion
Articus Finance played a pivotal role in assisting the British expat in realising their home improvement aspirations by securing a second charge mortgage. This case exemplifies Articus Finance’s commitment to tailoring mortgage solutions to the unique circumstances of each client, especially when dealing with foreign nationals and expats.
With a strong track record in handling complex mortgage scenarios, Articus Finance continues to be a reliable partner for individuals looking for financial solutions in the UK mortgage market.
Contact us today to explore how we can help you achieve your mortgage goals, no matter your residency status or location.