Ex-pat becomes first-time landlord

A broker approached us for finance for his client who is an ex-pat living in Australia.

The client was looking to purchase her first buy to let property – a 1–bed flat in a newly built block of flats in Manchester.

The broker had experienced difficulties placing this case with other lenders for two main reasons; the client is:

• A first-time landlord

• An ex-pat

The client works for an international recruitment company, earning a good salary, so her profile fitted the Keystone Solutions Range.

Accordingly we were able to offer the following deal:

Property value: £115,000 

Loan amount: £85,000

LTV: 74%

Range: Keystone Solutions for Individuals

Product: 8.49% fixed for 3 years

Terms: 3 years interest only

Rent: £650pcm

Gross yield: 6.8% pa

Monthly mortgage payment: £601pcm

Facility fee: 3% (£2,550)

Broker proc fee: 1% (£850)

Consultant: Gareth Richards

Call: 01732 471627