Case Study – Self-Employed Interest Only Buy-To-Let Mortgage

Self-Employed Interest Only Buy-To-Let Mortgage

Contractor UK Mortgage for British Expat

This is a great case study on how Liquid Expat Mortgages helped a self-employed foreign national working in South African to secure a UK interest only buy-to-let mortgage.

The scenario

Investing in property in the UK without a financial footprint or UK bank account can be challenging. This is particularly true when the applicant is self-employed and has an irregular income stream. This was the case for our South African client, who was keen to start investing in the UK property market and approached Liquid Expat Mortgages for help with a UK mortgage. The customer had been attracted by the stable UK property market as well as historically low interest rates. As such he wanted to build a portfolio quickly and wanted an interest only mortgage to maximise the returns of a buy to let mortgage.

How Liquid Expat Mortgages dealt with the situation

We were approached by a self-employed South African who was looking to invest in UK property. The customer had no financial or credit footprint and no bank account in the UK, the latter being a requirement of any UK lender to make monthly payments. This was further complicated by the fact that as a self-employed individual his income was erratic.

The only tangible way for the customer to achieve his objective was to buy a UK property via a limited company.

The result

This was a two-tier approach in effect, but one Liquid Expat Mortgages is experienced in and has delivered for many customers worldwide.

Part 1- The first part was to help the client set up a UK bank account, which the lender had deemed as a requirement to make the direct debit mortgage payments. We also helped our customer set up a UK limited company to obtain a buy to let mortgage via the limited company.

Part 2- Once the first part had been completed, the second part of our solution was to speak with several lenders who were familiar with a Self-employed foreign national looking to invest in UK property via a limited company. Liquid identified three lenders who were happy to provide finance for our customer. It was then a case of working with him to understand any future needs so we could truly see the best options for him.

A UK mortgage for a South African national was completed and they were able to offer the client an interest-only mortgage at a competitive rate on 75% LTV.


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.

Get a free quote