It’s no exaggeration to call our client base truly international, and each different jurisdiction presents a diverse set of challenges for our team. However, as we deal with international clients daily, we’re always up to date with the latest knowledge and information to guide our valued clients through the application process, often across thousands of miles, spanning time zones and overcoming language barriers.
Our clients were a Japanese national and a Japanese resident looking to buy a £2.175m property in London. One applicant’s income was based around future investment earnings and the other applicant received a salary in Pound Sterling.
There were a number of challenges in this case for our Associate Director Mark Pattanshetti. Firstly, Japan is not a country most lenders will accept applications from. Additionally, the application needed to be completed within a four-week timeframe, which was an incredibly fast turnaround with several complexities in the application. Finally, the clients were looking for flexibility in the mortgage allowing them to make unlimited overpayments, as they anticipated selling some UK buy to let properties within the coming year, and wanted to put the capital from these sales into their new purchase when the time came.
Mark was able to source a lender who would take a wider view of the client’s employed income, and also consider their spouse’s net worth, which was considerable. The lender also suggested that the clients discuss their case from the UK Embassy in Japan, making them technically on British soil when they made the application and received the advice. This ensured compliance with the lender’s requirements. Mark also negotiated a variable tracker product with no early repayment charges at any time, meaning our clients received a full house on their list of complex requirements.
If you’re living and/or working abroad and are looking for a mortgage in the UK, we are the specialist team to speak with. Get in touch to find out how we can help you fulfil your requirements and secure the funding you need.