Successfully securing a mortgage for relocating clients, a complex case

What was the situation?

I recently wrote an article about expat mortgages and their increasing popularity. In addition to increasing expat enquiries, we have also seen an increase in lending to foreign nationals. My recent case study is a good example of that.

I was approached by my client who held a foreign passport, but wanted to re-locate their family from the Caribbean to the UK. With English roots in their family, they were looking to purchase a residential property in picturesque Derbyshire for £850,000.

What was the issue?

The first issue arose with the client’s family VISA application as they did not have approval at the time of applying for the mortgage. Additionally, the client was transitioning from a permanent role based in the Caribbean, to an independent rolling contractor position for the same firm in the UK. Despite being successful in their existing role, this was their first time contracting and therefore had no experience to show their contracting history.

The client had also agreed with their employer that they would only begin their rolling contract once they had completed on the house purchase and permanently moved to the UK. Regardless of this, the lender was happy to work with the anticipated contracting income, based on their letter of employment.

What was the process?

Unfortunately, the client had already had their case declined with a leading high street lender. Because of the complexities that impacted this case, I knew I was unable to put this case forward to another high street lender. Instead, I needed to approach a lender who would consider bespoke underwriting for my client’s unique situation.

Using my knowledge and previous experience of sourcing, I spoke to a modern lender whose lending proposition sits between the high street and private banking space. Due to my client’s financial position & profile, they were able to underwrite the case on a bespoke basis and successfully provide lending.

What was the solution?

My client was delighted that I was able to secure a loan of 75% loan to value at a fixed rate for two years.

Having already applied and been declined before approaching LDN Finance, they were unsure of how they would be able to secure the finance they needed. With our help, they were able to make the move to the UK successfully, settling in their new home as planned.

Lending solutions with LDN Finance

Are you a foreign national looking to relocate to the UK? With whole of market access, we work closely with our trusted network of private banks, high street and specialist lenders to arrange bespoke mortgage arrangements to suit your circumstances at competitive, market-leading rates.

we’re here to help you find a solution – no matter how complex your circumstances. At LDN Finance, our expert brokers have extensive experience in providing creative solutions to secure large loans for our clients.

Get in touch with us to organise an initial consultation.