{"id":14010,"date":"2021-10-22T10:45:00","date_gmt":"2021-10-22T02:45:00","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized-hk\/self-employed-overseas-sourcing-an-interest-only-buy-to-let-mortgage-in-the-uk"},"modified":"2023-09-15T11:34:44","modified_gmt":"2023-09-15T03:34:44","slug":"self-employed-overseas-sourcing-an-interest-only-buy-to-let-mortgage-in-the-uk","status":"publish","type":"post","link":"https:\/\/backup.articusfinance.com\/hk\/case-studies\/self-employed-overseas-sourcing-an-interest-only-buy-to-let-mortgage-in-the-uk","title":{"rendered":"Self-employed overseas sourcing an interest only buy to let mortgage in the UK"},"content":{"rendered":"<h2 style=\"color: #134f5c; font-size: 15px; font-family: Verdana, Geneva, sans-serif;\"><strong>The case in brief<\/strong><\/h2>\n<p><!--more--><\/p>\n<ul>\n<li>Client: South African national &amp; resident<\/li>\n<li>Property type:\u00a0Residential purchase<\/li>\n<li>Property value: \u00a3450,000<\/li>\n<li>Loan Amount: \u00a3315,000<\/li>\n<li>LTV: 70%<\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Investing in property in the UK without a financial footprint or UK bank account can be challenging. This is particularly true when the applicant is <a href=\"https:\/\/backup.articusfinance.com\/hk\/self-employed-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">self-employed<\/span><\/a> and has an irregular income stream. This was the case for our South African client, who was keen to start investing in the UK property market.<\/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=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Our client was a self-employed South African who was looking to invest in UK property via a <a href=\"https:\/\/backup.articusfinance.com\/hk\/buy-to-let-mortgage-limited-company\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">limited company<\/span><\/a>. The three stumbling blocks were that firstly the client had no financial footprint in the UK and no UK bank account, which was required by the lender to make any monthly mortgage payments. Secondly, the client did not have a UK-based limited company through which to make their property investments. Finally, the client\u2019s personal income was accrued via self-employment in his native country, which was often variable in its nature.<\/span><\/p>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">The client was looking to take advantage of cheap leverage in order to build a <a href=\"https:\/\/backup.articusfinance.com\/hk\/portfolio-landlord-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">portfolio property<\/span><\/a> quickly and was also searching for an <a href=\"https:\/\/backup.articusfinance.com\/hk\/interest-only-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">interest-only mortgage<\/span><\/a> to maximise the revenue generated through a <a href=\"https:\/\/backup.articusfinance.com\/hk\/buy-to-let-mortgages-in-the-uk\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">buy to let mortgage<\/span><\/a>.\u00a0<\/span><\/p>\n<h2 style=\"color: #134f5c; font-size: 15px; font-family: Verdana, Geneva, sans-serif;\"><strong>Our solution<\/strong><\/h2>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">We created a solution for our client in two parts. The first part was to help the client set up a UK bank account, which the lender had deemed as a requirement in order to make the direct debit mortgage payments. We also helped the client to set up a UK limited company in order to fulfil their request to obtain a buy-to-let mortgage via the limited company.<\/span><\/p>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">The second part of our solution was to source a <a href=\"https:\/\/backup.articusfinance.com\/hk\/private-bank-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">suitable lender,<\/span><\/a> who would accept the terms of the applicant. Our close relationship with a niche building society enabled us to ensure that they were comfortable with providing a UK mortgage for a South African national, in addition to our client\u2019s self-employed status. In return, they were able to offer the client an interest-only mortgage at a competitive rate.<\/span><\/p>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Investing in the UK property market without a substantial knowledge of the UK mortgage market can be hard to navigate and often leads to a more costly mortgage and therefore smaller profit margins. This is increasingly difficult when the applicant holds very few or no financial assets within the UK and earns a variable self-employed income in another country. <\/span><\/p>\n<p style=\"text-align: justify; font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">As experts in brokering <a href=\"https:\/\/backup.articusfinance.com\/hk\/foreign-national-mortgages\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">foreign national mortgages<\/span><\/a> for highly complex individual cases, we can find a solution to even the most difficult personal situations. You can <a href=\"\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">learn more about our services<\/span><\/a> or <a href=\"https:\/\/backup.articusfinance.com\/hk\/contact\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #45818e;\">speak to a broker today<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief<\/p>\n","protected":false},"author":1,"featured_media":14011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":["post-14010","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\/blue door against a white wall.jpg","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/posts\/14010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/comments?post=14010"}],"version-history":[{"count":1,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/posts\/14010\/revisions"}],"predecessor-version":[{"id":21191,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/posts\/14010\/revisions\/21191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/media\/14011"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/media?parent=14010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/categories?post=14010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/hk\/wp-json\/wp\/v2\/tags?post=14010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}