The case in brief
- Client: Couple – British Expat & Hong Kong National
- Property type: Residential
- Property value: £1.8M
- Loan Amount: £ 1.2M
- LTV: 66%
Property in the UK is widely regarded as a safe long-term investment, prompting numerous British expats to maintain or acquire real estate in their home country. However, certain circumstances can complicate matters, such as obtaining a UK mortgage for non-residents with Hong Kong residency – which can present significant challenges.
If you’re an overseas client interested in investing in the UK property market, visit our Overseas Mortgages page.
Our client
We recently assisted to a British expat in obtaining a mortgage for a residential property located in North West London. Our client, along with her husband, were first-time buyers with a clear intention of establishing their long-term roots in the UK to raise their family.
Obtaining UK mortgages for British expats is generally a manageable process. However, in this particular case, several factors presented genuine challenges. At the time of the application our clients were residing and working in Hong Kong. Additionally, the husband held Hong Kong citizenship, which made certain lenders uneasy due to their lending policies.
Furthermore, at the time of their inquiry through our website they were looking to purchase a residential property that couldn’t be immediately occupied since it needs some refurbishing.
In addition to covering rent and living expenses in Hong Kong, my clients desired a joint mortgage for affordability reasons, while insisting that the property deeds be only in the wife’s name.
Our solution
Due to our vast network of lenders, including those who are familiarised to working with Hong Kong nationals and residents. Given the complexity of our clients’ requirements – Articus decided to approach a private bank with whom we have an exceptionally strong relationship. Our broker successfully showcased the couple’s solid employment history to the lender, highlighting their consistent income levels over the past three years.
Looking to purchase or remortgage a property as an overseas resident? Download our guide for more information.
Our client was thrilled with the final terms that were agreed upon, as it fell comfortably within their planned budget, bringing them great satisfaction. Get in touch today