Our Case Studies
Our Case Studies Large mortgage for non UK resident placed by the specialists in large mortgage loans

Large mortgage for non UK resident placed by the specialists in large mortgage loans

Need a large mortgage? We have the banking contacts 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

The client was a young, high net worth Chinese national working for a telecommunications company in China. Through work he traveled extensively to the US and UK, and therefore decided to buy an investment property in central London.

Due to the client’s nationality, lack of UK visa and overseas residential status, there were only a handful of lenders that would consider a mortgage loan application. To further complicate matters, the apartment the client wished to buy was an ex-Local Authority property, meaning that all except prohibitively expensive, short term lenders would not consider the case.

Solution

Although the property was ex-local authority, it was in an attractive, traditional 1900 building in an up market area of London, Bloomsbury, and was high value, with an agreed sale price of £985,000.
The client had already spoken to our first choice lender directly and been declined at the initial enquiry stage due to the property type. However, we felt that it was a good case and put a proposal to our contact at the bank who in turn sought an exception from their underwriting department. Due to the strength of the client’s credentials and positive nature of the property we were able to get an exception and arrange the large mortgage for our client.

Deal Highlights

Loan amount:£689,500
Rate:3 year fixed rate at 3.95%
LTV:70%
APR:Overall cost for comparison 5.0% APR representative variable
Term:25 years
Type:Repayment
Loan purpose:Purchase
Lender’s arrangement fee:£3,195
Early repayment charges:1% for the first 3 years

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 The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it.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 5.0% APR representative variable based on 25 years at 3.93%. Lender’s arrangement fee is £3,195. 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.

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 seeking a million plus pound mortgage? We have the banking contacts…

Latest/Related News

Are you aware of the latest requirements for self-employed mortgage applica…

Press Release

States proposal to waive document duty on bonds hailed as a victory for mor…

Press Coverage

Budget ‘is great news for property market’…

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