Expat Remortgage Of Investment Property To Raise Capital For A Second Property

CASE STUDY:

Refinance - 2 bedroom flat

Capital raised: £282,500

Area: London

Helping UK expats find finance solutions is an area we can provide experise and provide access to a variety of lenders who can provide innovative product offerings. This niche is an expanding one and we have seen an increase in the level of this type of business over the past year.

The client in this case was an expat who had been living and working in the USA for the past nine years with a good UK track record and mortgage history with a current lender. The client wanted to repay the current lender and capital raise to purchase another property. The security property was a two bedroom flat in London with a good demand for rental confirmed by the valuer generating £1,650 per month on an Assured Shorthold Tenancy basis.

As this was an expat loan the chosen lender required all relevant personal identification, proof of residency and all documentation to be confirmed as a true likeness and certified to be original copies by a notary public based in the USA.

Working with an experienced expat lender with an appetite to lend to this client type led to a smooth transaction and completion within 30 working days from issue of the offer.

This time frame was positive due to the clients location and all parties involved were very happy with how this transaction progressed. 

Contact the Fair Mortgages team for expert advice on your UK expat lending requirements on (+44) 0117 403 4474 or complete our callback form.