The case in brief
- Client: French National & Resident
- Property type: Main Residence in London
- Property value: £800,000
- Loan Amount: £640,000
- LTV: 75%
In this case, we were approached by a French contractor who needed to finance the purchase of a London property. They intended to temporarily relocate to the UK to work on a new contract with a different firm. The client was looking for an 80% loan-to-value (LTV) mortgage without any penalties for early repayments. This aspect held significant importance for the client in terms of planning for future work opportunities upon their potential return to France. To find out more about UK mortgages for French residents, click here.
The client’s decision to buy a property instead of renting was driven by the inclusion of a substantial loan dedicated exclusively to accommodation proposed in her work agreement.
Articus was working against a deadline as the client wanted to complete the purchase before their upcoming move to London. However, they didn’t know how to get the best mortgage as they were unfamiliar with the UK mortgage market and the application process. Maximize your mortgage potential by downloading our Foreign National and Expat Guide.
Our client
Articus faced a pressing deadline as the client aimed to finalise the purchase before their upcoming move to London. However, they reached out to Articus to ensure they could secure the most advantageous mortgage, as they were unfamiliar with the UK mortgage market and the process.
In this particular scenario, it was evident that a high street lender would not be able to provide the client with a personalised package that aligned with their specific need, particularly considering the involvement of multiple jurisdictions – included requirements such as:
- Client wanted no early repayment terms
- Client nationality
- Irregular income
- Possibility of their return to France in the near future.
Our solution
As a result, Articus approached a range of building societies to explore alternative options – as they regularly are able to provide bespoke underwriting and a tailored mortgage solution.
To learn how we can assist foreign nationals, visit our UK Mortgages for Foreign Nationals page.
Through negotiation, Articus successfully secured a 75% loan-to-value (LTV) interest-only mortgage from a private bank on behalf of the client. Notably, Articus was able to arrange the mortgage without any early repayment charges, providing them with more flexibility in their monthly payments. We completed the mortgage process under the client’s timeline for their relocation to the UK. We also minimised the client’s involvement per their request, enabling them to focus on their upcoming work project in the capital. GET IN TOUCH TODAY.