Buy to Let Purchase for Expat First-Time Landlord
The Client: Having lived and worked in mainland Europe for several years, our client was a British national looking to purchase his first buy to let property. He’d set up an SPV limited company with a UK business bank account and intended to build a small buy to let portfolio over the next few years.
The Property: Our client was looking to purchase a two-bedroomed terraced house in South Wales. It was well situated for tenants working locally or commuting with excellent local amenities and transport connections to local towns.
The Finance: Using savings as a deposit, our client required a 75% LTV buy to let mortgage to secure the purchase. He was keen to secure a low interest rate to minimise repayments, maximise cash flow and build up further savings for his next purchase.
The Challenge: As an Expat, our client had significantly fewer buy to let lenders that would consider his case. Additionally, as a first-time landlord, the choice was further restricted, meaning we’d have to thoroughly research the market to ensure our client got the most competitive rate that would benefit his future investment plans.
The Solution: Being a specialist buy to let mortgage broker, we have extensive experience sourcing finance for both Expats and first-time landlords. With full market access, we quickly identified the buy to let lenders with criteria that included our client’s circumstances, and from that shortlist found the most competitive interest rate.
Application submitted, it moved smoothly to offer, and our client is on his way to becoming a landlord! Here are the details: