£4.6 million residential mortgage for foreign national with a complex income structure

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Sunday April 30, 2017

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Case Profile

The client was looking to buy a high value, new build property in London, as a main residence. However, the client’s complex income structure, the high Loan to Value (LTV) of 85% required and his limited liquidity, made sourcing a mortgage challenging.

The client is a US national living and working in London, and already owns multiple properties. He is paid directly from his US employer in Dollars, and also pays tax in the US. Although the client has a strong salary, two thirds of it is made up of non-guaranteed bonuses, all of which is deferred and vests over three years. All of this income needed to be taken into account to meet affordability criteria. Many lenders are not happy to take a view on complex income structures like this.

The client had an offer accepted to buy the new build London flat. However, most lenders will restrict LTV on new build properties. This was a challenge, as the client’s liquid capital is currently limited; he only had a 15% deposit available.

As a result of his irregular income, he required a mortgage structured on an interest only basis in order to fit with his income stream. Additionally, the client wanted a fixed rate mortgage, which many private banks would not offer.


At largemortgageloans.com, our Mortgage Managers have comprehensive experience in advising on large and residential complex mortgages. Additionally, we have strong relationships with over 80 lenders, worldwide. We were, therefore, able to assist the client in sourcing an appropriate international private bank mortgage.

We took the time to understand the client’s overall financial position, and were able to put together a bespoke solution for them. We have strong relationships with a range of private banks, including ones who lend to US citizens, and assess affordability on the client’s whole income, none of which needs to be taxed in the UK.

We presented the case to the lender, who accepted the client’s circumstances and requirements, which were comprised of a high value new build property, along with a complex income structure at the LTV required. We negotiated for the client to pay the interest only on a monthly basis, with annual capital down payments, timed to coincide with the receipt of annual vesting bonus payments, which suits the client perfectly.

The client was happy with the mortgage terms presented, and secured the funding needed to purchase his new London home.

Deal Highlights

Loan amount:£4,675,000
Rate:2.99% fixed for 5 years, reverting to standard variable rate, currently 3.74%
APRC:Overall cost for comparison 3.5% APR representative variable
Term:12 years
Type:Interest Only with annual capital bullet payments of £165,000 (3% of the purchase price)
Loan purpose:Residential purchase
Lender’s arrangement fee:1% of the loan amount
Early repayment charges:5% reducing annually to 1% in year 5, none thereafter. 10% penalty free overpayments per annum allowed


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.

Please 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.

Overall cost for comparison of regular mortgage 3.5% APRC representative variable based on 12 years at 2.99%. Lender’s arrangement fees of 1% of the loan amount. 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 1.17% of the mortgage amount is payable, of this 25% is payable on application and the remainder on completion, e.g. on a mortgage of £1,000,000 the fee would be £11,700 of which £2,925 would be payable on application. The precise amount will depend on your circumstances.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you re-mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk. The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Largemortgageloans.com Ltd is a licensed credit broker, and not a lender.

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