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£1.85million mortgage for a non-UK citizen

We have just arranged a competitively priced £1.85 million mortgage for a non-UK citizen.

To discuss this or any other large mortgage case, please contact us now

Case profile

Our client, a South African lawyer, wanted to purchase a property, valued at £2.35 million, to use as a second home in London. He works and lives in South Africa with no permanent rights to reside in the UK and is a wealthy individual who could afford to purchase the property outright. However there are restrictions on the amount of money that may leave South Africa and so the client needed a substantial mortgage of £1.85million.

The solution

As the client has no permanent rights of residence, he could not find a high street bank that was willing to lend. He chose largemortgageloans.com because of its reputation as a large mortgage specialist having strong relationships with over 44 private banks and boutique lenders.

The experienced largemortgageloans.com mortgage manager recognised that the client banked with one of the largest financial institutions in South Africa which also operates a specialist UK bank. A meeting was set up with the private banking division of the UK bank, which offered the client a competitive rate of 2.24% over the Bank of England Bank Rate.

Deal highlights

Loan amount:£1.85 million (78% LTV on £2.35 million purchase price)
Rate:Bank of England Bank Rate + 2.24%¹ variable rate (pay rate of 2.74%)
APR:3.6%² (the overall cost for comparison)
Term:5 years
Type:Interest Only
Loan purpose:Purchase of second home
Arrangement fee:0.875% of loan amount
Early repayment charges:None


This case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

¹Please note that this specific deal may not be available to – or suitable for – all customers, dependent on their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This document may not contain all the information needed for customers to make a decision and they should seek advice.

²APR (the overall cost for comparison) calculation based on arrangement fees of 0.875% x £1.85 million (£16,187.50) and legal and valuation fees of £5,000. The actual rate available will depend on your circumstances. Ask for a personalised illustration.

largemortgageloans.com is a trading name of largemortgageloans.com Ltd. A fee of up to 1% of the mortgage amount is payable, of this 25% is payable on application and the remainder on completion, e.g. on a mortgage of £100,000 the fee would be £1,000 of which £250 would be payable on application. The precise amount will depend on your circumstances.

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