Our Case Studies
Our Case Studies How the expertise of largemortgageloans.com helped secure a complex bridging-loan for a foreign national

How the expertise of largemortgageloans.com helped secure a complex bridging-loan for a foreign national

Are you looking for the best financing terms for a bridging-loan but have some complex holdbacks? Maybe you’re unsure on the best solution to help your current mortgage situation? We have the banking contacts on hand to provide a tailored solution where other lenders may not be able to help. To discuss this or any other large or complex mortgage case, please contact us on 020 7519 4984 or email us.

Case profile
Our client was a High Net Worth foreign national looking to purchase an £8million West London penthouse.

The complexities in this case stemmed from the purchase of this property. It was being purchased off-plan through the reassignment of a contract from another party who had originally agreed to purchase it from the developer. Contracts had been exchanged and a sizeable deposit had been paid well before we were contacted for urgent help to secure a bridging loan.

Neither the clients, nor their regular broker, were able to arrange a traditional financing offer before the purchase option expired. With a wealth of knowledge in securing the most suitable finance option for complex situations such as this, largemortgageloans.com were able to reach out to our vast network of lenders for an ideal solution.

Trying to organise finance for an off-shore borrower is always a challenge and requires extra due diligence which traditional lenders and brokers may struggle with.

Solution
Lending to foreign nationals, whether a resident in the UK or overseas, is a familiar prospect for largemortgageloans.com. Our team often work with bespoke and non-standard transactions so were not put off by the complexities of this case.

We were able to establish a complicated source of wealth spread over multiple countries. Whilst this is high risk for many lenders, we identified which lenders in our network would be comfortable with this scenario. Our expertise in dealing with high net worth borrowers enable us to be flexible and creative in our solutions. Therefore, through our in-depth due-diligence processes, in conjunction with the bespoke lender selected, we managed to build up a clear picture of the client and their wealth that allowed the underwriting of the facility to progress smoothly.

We completed a 6 month, £4.3m residential bridging loan for the clients, enabling them to complete their purchase and not lose the large deposit that had already been paid.
Deal Highlights

Loan amount:£4,380,541
Rate:1.0% per month
LTV:60%
APRCOverall cost for comparison 13.50% APRC representative variable
Term6 months
Type: (Interest Only/Repayment)Bridging Loan
Loan purpose:Purchase
Lenders arrangement fee1.5% of the gross loan
Early repayment charge2 month's interest

Notes
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 13.50% APRC representative variable based on 6 payments at a fixed rate of 1% and lenders fees of 1.50%. Ask for a personalised illustration.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Please note the Financial Conduct Authority does not regulate some aspects of bridging finance.

 

Return to Our Case Studies

This Month’s Top Fixed Rate

Fixed rate
Initial rate: 1.35%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.46%

Get This Rate

This Month’s Top Variable Rate

Variable rate
Initial rate: 0.97%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.37%

Get This Rate

Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

Latest Articles/News

Case Studies

Are you looking to secure a million-pound mortgage but have some complex ho…

Latest/Related News

Another month, another decision from the Monetary Policy Committee (MPC) to…

Press Release

On Friday 14th June 2019, largemortgageloans.com was thrilled to be crowned…

Press Coverage

Could a retirement mortgage help you stay in YOUR home?…

LML Brochure

Download our brochure to find out more about Largemortgageloans.com and what we can offer

Click to Download

Sign Up

Subscribe now, to hear from us on the latest mortgage market news, products and services.

Client Testimonials

Close

Live chat with
our team now

Chat

LargeMortgageLoans.com