Interest Cover Ratio (ICR) & Top Slicing Case Study
This is a great case study on how Liquid Expat Mortgages helped a self-employed expat by using top slicing to successfully secure them a remortgage.
Ms. Foster, a self-employed UK expat in Hong Kong, sought to remortgage an existing property in London. With higher interest rates and her fluctuating self-employed income made it difficult to meet the ICR requirements for a standard remortgage.
Here’s how it worked.
Liquid Expat Mortgages used “top slicing” to consider Ms. Foster’s overall financial situation. In this case we considered her savings and investments, to demonstrate her ability to cover the mortgage payments. On this basis we successfully secured a remortgage for her London property.
Interest Cover Ratio (ICR) & Top Slicing Solutions
Interest Cover Ratio (ICR) and Top Slicing are crucial for landlords and lenders alike as they ensure affordability, mitigate financial risk, meet lender requirements, and provide flexibility in volatile Buy To Let (BTL) mortgage market conditions.
If you would like to understand how ICR and Top Slicing can increase your maximum borrowing amount, please contact Liquid Expat Mortgages, and let us assist you with your Buy-to-Let Mortgage options.Talk To A Mortgage Specialist Now
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