The case in brief
- Client: UK National & Australia Resident
- Property type: Buy-to-let Refinance
- Property value: £780,000
- Loan Amount: £508,000
- LTV:65%
Recently, Articus was contacted by an expat who has resided in Australia for the past 15 years and he was looking to remortgage his buy-to-let (BTL) property.
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Our client
The buyer was a UK national residing in Australia. He had an unencumbered property in the UK and was looking to release equity to improve the property – ultimately adding value and allowing the client to increase his rent.
Looking to purchase or remortgage a property as an overseas resident? Download our guide for more information.
The client also had a sporadic income as his employment was seasonal. This adds to the concern/complexity of the case as lenders would prefer to see a steady income to satisfy the mortgage payments on top of the rental income.
Our solution
Due to the client’s residency – we couldn’t approach a ‘high street’ lender, instead, our broker approached a building society with whom we work regularly. The broker was able to efficiently process the application and take as much work as possible off the client’s desk.
Successfully obtaining a mortgage or property finance isn’t simple as an overseas resident. Articus plays an effective role in not just assisting the client but also assisting the lender in comprehending and evaluating the borrower’s risks and merits in order to make an informed decision from the outset.
In this particular scenario, we efficiently reach a lender who could provide the ideal solution – a 65% Loan-to-Value (LTV) mortgage.
At Articus, we specialise in brokering mortgages for overseas residents. Download our guide for expats and foreign nationals which will help you obtain a better understanding To discuss your specific situation, GET IN TOUCH TODAY.