The case in brief
- Client: Italian National in Switzerland
- Property type: Residential Remortgage
- Property value: £750,000
- Loan Amount: £300,000
- LTV: 40%
Articus has a successful history of helping non-UK residents refinance their UK home, whether approaching the end of their current terms, seeking more affordable options, or needing to break a mortgage for any reason. Recently, we were contacted by an individual from Italy who wanted to refinance a property they had bought earlier in the year.
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Our client
The client was an Italian national living in Switzerland. Click here to learn how we assist Swiss residents. Following the client’s recent divorce, they were granted ownership of a rental property in Italy and a residential property located in Chelsea valued at £1.6 million. Subsequently, the client sold the Chelsea property and utilized the sale proceeds to purchase a 4-bedroom property in North East London worth £750,000, which they intended to refurbish.
Despite having adequate savings to fund the renovation, the client prioritized maintaining liquidity due to their plans to start a business in Switzerland in the near future. However, the situation was complicated by the client’s lack of current employment, as their income consisted solely of rental earnings from a buy-to-let property in Italy.
Our solution
When considering refinancing, it’s crucial to assess the associated costs and compare them against the expenses of a new mortgage product. Some borrowers assume that a lower interest rate always justifies refinancing, but in reality, short-term savings may not always outweigh long-term gains.
At Articus, we can aid you in comparing and comprehending mortgage offers presented by one of our specialised brokers. This way, you can obtain an overview of the situation and confirm whether switching to a new mortgage is the most suitable option for you.
By utilizing our extensive network of lenders, we identified a lender capable of accommodating the client’s unique circumstances and devising a customized refinancing solution. Whether you require property refinancing for any reason, Articus is dedicated to providing assistance.
Don’t hesitate to contact us to discuss your situation today.