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Private Bank Mortgage for a UK Expat
This is a great case study on how Liquid Expat Mortgages helped a British Expat in Australia to secure a private bank mortgage for a property in London.
The scenario
The customer was referred to Liquid Expat Mortgages from a law firm who have worked with us previously in relation to placing mortgages for high-net-worth individuals. The customer was a newly appointed Chief Operating Officer of a large mining operation in Australia. The business had recently undergone a large share issue linked to funding and the value of our customer’s shares had increased significantly because of the new funding round. In this case the customer was looking for a residential mortgage that had the flexibility to overpay and which he would later move into after his work in Australia had been completed- between five and seven years.
How Liquid Expat Mortgages dealt with the situation
Once we spoke with our customer it became obvious that the best way forward was to obtain an interest only mortgage so that he could pay down the mortgage as and when some of his shares became eligible to be cashed in. In this way he could pay down the mortgage efficiently and in a timely fashion.
We quickly identified one of the private banks accustomed to dealing with these types of customers and complex situations. They appreciated the fact that Liquid Expat Mortgages had clearly carried out its due diligence on the customer and his situation and the private bank fully appreciated the value of the client’s business and the future opportunities that the client could bring to the bank.
We were able to arrange a very competitive and flexible product which very much met with the customer’s needs and established a relationship with a private bank which would benefit him on his return to the UK in the future.
The result
Liquid Expat Mortgages was able to provide a great interest rate of 1.95% above the Bank of England base rate over a Five-year period. The property purchase price was £3.1m and the loan to value was 70%. In essence it was able to provide a tailored mortgage product and bespoke underwriting which high street mortgage lenders can’t even think of providing.
UK Expat Mortgages & Remortgages
No mater where you are currently living or working around the world, Liquid Expat Mortgages can help you secure a high value or private bank mortgage or remortgage in the United Kingdom. Contact us now for a free quote. Our fully qualified and experienced mortgage advisers will advise you on the best mortgage options available for your circumstances.
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