Limited Company Buy to Let Mortgage for Expat Landlord

The Client: An expat living in Switzerland, our client was an experienced landlord with two buy to let properties in the UK.

The Property: A two-bedroom terraced house in a lively town in the South of England. Our client was looking to purchase the property to expand her investment portfolio.

The Finance: With a 25% deposit, our client was looking for a limited company buy to let mortgage to purchase the property.

The Challenge: The main challenge with this case was our client’s expat status. Her deposit sat in her Swiss account, making it harder for lenders to track the funds. There was also the issue of the currency difference, and exchange rate. As such, buy to let lenders became cautious about how secure the deal, and if our client’s funds would be sufficient for the deal.

The Solution: From speaking with our client, she was also worried about securing the loan as an expat. We knew that presenting her case to lenders in a way that calmed any nerves was our best bet at securing a deal. Therefore, we acknowledged the issues that could have arisen due to her expat status but quickly resolved them by making lenders aware of her UK bank account, and her experience as a landlord. Her secure income and employment also played a key role in reassuring lenders. Our extensive knowledge of lender criteria and experience working with expats to secure property finance meant that got our client’s case to completion. Here are the details:

Property Details

Property value: £282,000

Loan amount: £211,500

LTV: 75%

Rate: 3.34% for a five-year fixed term.

Term: 25 years, interest-only

Mortgage Payment: £587.04 per calendar month.

Lender arrangement fee: None

Gross yield:  4.68% per annum

Application: SPV Limited Company

Consultant: Deepinder Bhangoo, 01732 471661

11th March 2022