Surrey Property Purchase For Director Of South African LTD Company
One market that is extremely disjointed and complex in theUK is using international or foreign income to service UK mortgages. It is soimportant for international clients to get the correct advice and find anadviser that really understands the market for them. There are lenders thatcharge clients over 5% for this type of offering.
When we were introduced to this particular client, we knewexactly who to approach to get them the absolute best outcome. First of all themain issues were as follows.
- Income derived from a South African Company
- Income paid in Rand
- Need to borrow against strength of companyprofit as personal income not sufficient
- New to the UK
- No credit footprint
With all these issues taken into account we were able tooffer the following solution for our client.
Purchase price - £1,500,000
Borrowing - £1,125,000 (75% LTV)
Interest rate – 1.59%
Given the international and income complexities this was agreat outcome for our client and it allowed them to purchase their firstproperty in the UK in the most cost effective way possible.
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