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Residential Mortgage For UK Expat Business Owner Earning Self-Employed US Income
This is a great case study on how Liquid Expat Mortgages helped a British Expat business owner working in Canada to secure a UK residential mortgage.
The scenario
Liquid Expat Mortgages were approached by a successful business owner who’d moved Vancouver Canada over 4 years ago to see if he could get his business model to work and access the lucrative US market from just over the border.
Things had gone well, and they were now planning the return to the UK and a key consideration was the purchase of a forever home in the UK.
How Liquid Expat Mortgages dealt with the situation
One of the issues Liquid Expat Mortgages faced was that the owner wasn’t taking a salary or dividends from the British business, so he wasn’t able to prove a high enough income as they wanted a loan of £1,050,000 against a purchase of £1.4m which was around 75% LTV-or Loan to Value. It also meant the income could only be classified as foreign income and self-employed.
The result
Liquid Expat Mortgages has bags of experience dealing with this type of scenario and we were able to approach a couple of specialist lenders who were able to look at both businesses. Our lender was able to use the declared self-employed income from his Canadian business as well as leveraging the net profit from his UK business.
By adopting this approach with a specialist lender, he was able to increase his loan amount although he preferred to place a larger deposit and keep the interest rates as low as possible. Liquid Expat Mortgages secured a 4-year fixed rate of 1.44%.
UK Expat Mortgages & Remortgages
No mater where you are currently living or working around the world, Liquid Expat Mortgages can help you secure a self-employed/contractor 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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