An internationally based client living and working in the UK approached Enness seeking finance for a first UK buy-to-let investment. The property was a flat in West London valued at approximately £445,000.
The transaction presented several lending considerations. The client was not a UK property owner-occupier and had a relatively short UK residency history, having lived in the country for less than three years. This can limit the number of buy-to-let lenders willing to consider an application, particularly where there is a need to demonstrate that the property is intended solely as an investment.
The client was also self-employed and had only one year of UK accounts available. Their financial position therefore required a lender capable of considering international assets and income alongside their UK circumstances.
OUR SOLUTION
Enness approached an international private bank with experience in complex buy-to-let lending and cross-border financial profiles. The application was presented with evidence of the client’s wider financial position and affordability, helping the lender assess the intended use of the property and the client’s ability to support the proposed borrowing.
The lender was able to consider the client’s international income and assets as part of its wider underwriting assessment, subject to its own criteria and due diligence. This provided a route to financing despite the client’s relatively short UK residency history, self-employed status and limited UK trading history.
A buy-to-let mortgage was secured over a 25-year term on a variable-rate basis, subject to the agreed lender terms. The structure enabled the client to proceed with the acquisition of the West London property as an investment while accommodating their international financial circumstances.
This case demonstrates how specialist international buy-to-let lending can assist borrowers whose residency, income or asset profile falls outside the criteria of mainstream providers. Careful lender selection and a clear presentation of the client’s wider financial position can be particularly important where the borrower has limited UK financial history.
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, property suitability and lender criteria. Terms, rates, LTVs and availability may vary depending on individual circumstances.
Risk Warning:
Your property may be repossessed if you do not keep up repayments on your mortgage or other borrowing secured against it. Property values can fall as well as rise.
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.
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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.
