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High-Value Purchase in the UK for First Time Buyer

ASSOCIATE DIRECTOR

Richard Webb

Luxury UK Property
Richard Webb
ASSOCIATE DIRECTOR

Richard Webb

  • Client: European National, UK resident
  • Property Value: Circa. £700,000

Our client, a first-time buyer, had specific requirements for the location of his new UK home and the available facilities and activities within a short distance, as well as having a vibrant community. However, his unique circumstances posed a challenge. As a European national with less than two years of UK residency, he needed a lender who could accept his non-UK asset base as a valid form of income and deposit.

The main challenge in this case was securing a high LTV for a foreign national whose income and deposits came from assets outside the UK. Despite this, we sourced a residential mortgage with a UK lender comfortable with all the above factors; as this client was a first-time buyer and this was his first home purchase, we advised the client of how to maximise his borrowing and how to structure the financing so that he could reap all the benefits from the facility while keeping within his expected budget and allowing for his future plans.

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