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First Time Buyer Mortgage for Dutch National

26th October 2021
VICE PRESIDENT

Victoria Barton

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First Time Buyer Mortgage for Dutch National
Victoria Barton
VICE PRESIDENT

Victoria Barton

Key facts:

  • Property type: 2 leasehold flats
  • Property value: £494,250
  • Loan amount: £370,687
  • LTV: 75%
  • Rate: 4.19% 5-year fixed
  • Over how many years: 10

Enness regularly works with foreign property investors, expats and other individuals who want to buy UK real estate despite being outside the UK. In this case, our client was a Dutch national and resident with no credit footprint in the UK. The client was eager to start growing his portfolio in the UK through an SPV.

The Dutch national was looking to purchase a new build flat in Manchester, as well as repay a bridging loan for another leasehold flat. As the client didn’t have a significant footprint in the UK (bridging loans won’t show up), it was difficult to get a lender on board with providing the first mortgage.

Despite the difficulties, we sourced a lender who was able to take a pragmatic approach to the client’s profile. This client was an experienced landlord in the Netherlands and had been running their original purchase as a BTL (buy-to-let), which added a level of comfort. As a result, we secured one loan across both properties at a very competitive rate for a 75% LTV (loan-to-value) product in this space.

Enness specialises in helping high-net-worth and international individuals secure the best possible mortgage finance in the UK. If you have unusual circumstances and need to secure lending to purchase a property, Enness is the specialist for you.

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