Enness was approached by a Dutch national and resident looking to begin building a UK property portfolio through an SPV. The client had experience as a landlord in the Netherlands but had no established UK credit footprint, creating an additional challenge when seeking finance for the proposed investment.
The transaction involved two leasehold flats with a combined value of approximately £494k. The client was looking to acquire a new-build flat in Manchester while also refinancing an existing leasehold property, which was subject to bridging finance. As the client had not previously built up a significant UK borrowing history, finding a lender comfortable with the overall structure was not straightforward.
Rather than treating the lack of UK credit history in isolation, Enness presented the client’s wider experience as a property investor. Their established track record as a landlord in the Netherlands, including experience operating a buy-to-let property, provided the lender with additional context when assessing the application.
Following discussions with suitable lenders, Enness secured a single mortgage across the two properties. The facility provided 75% LTV lending, with a five-year fixed rate of 4.19% over a 10-year mortgage term.
The structure allowed the client to move forward with their plans for the UK portfolio while consolidating the financing requirements across both properties. It also demonstrated how an established overseas property track record can be relevant when a borrower has limited UK credit history.
International property investors may encounter additional hurdles when applying for UK mortgage finance, particularly where they are non-UK residents or have limited UK borrowing history. Lender criteria can differ significantly, with some providers taking a more flexible approach to overseas income, existing property portfolios and alternative forms of financial evidence.
Enness specialises in UK mortgage finance for international borrowers and property investors. Each application is assessed individually, with lending subject to the borrower’s circumstances, property, affordability, structure and the relevant lender’s criteria.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal, tax or investment advice. Finance is subject to status, underwriting, affordability, valuation, due diligence and lender criteria. Terms, rates, LTVs, fees and availability may vary depending on individual circumstances. The terms referenced relate to a historical case and are not indicative of current or future pricing.
Risk Warning:
Your property may be repossessed if you do not keep up repayments on your mortgage. Property values can fall as well as rise, and borrowers should ensure they understand their repayment obligations and have a suitable strategy for meeting the outstanding mortgage balance.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
