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Expat Buy to Let

EXPAT WANTED TO PURCHASE A PROPERTY FOR BTL IN THE UK We were approached by a new build broker, looking to place a case for an ExPat client. The client was a teacher in Australia, had been there for a number of years, and wanted to take advantage of an opportunity in the midlands. They were attracted by the yield, the quality of the property, and knew the area well from family visits previously. Outcome We placed the case at 75% LTV at 3.79% on a fixed rate buy to let.

Overseas National’s Buy-to-Let Portfolio

A LARGE PORTFOLIO WITH A COMPLICATED OVERSEAS STRUCTURE The case was for a BVI registered limited company with 3 directors based in Singapore looking to remortgage a £5m portfolio to redeem the various existing lenders, but also to release capital to purchase additional property. Added to the complexity was the need to topslice rental income to service the loan. Outcome We housed the case at the full loan amount, utilising a lender who took a commercial view on the rent and experience, and sourced offshore opinion letters to confirm the structure. All of this was done in 3 weeks from application meaning the client could purchase quickly.

Bridge-to-let

COMPLETING A PRECISE 'BRIDGE'-TO-LET IN JUST 17 DAYS Crystal Specialist Finance recently finalised a Precise Mortgages’ Bridge-to-Let product case, completing the application from start-to-finish in just 17 working days. The product is designed to help landlords maximise rental yields by refurbishing the target property before they rent it out, bringing together the flexibility of bridging finance with an exit onto a long-term buy-to-let mortgage once the work has been completed. No mortgage repayments are required whilst the refurbishment works are being completed. In this instance the client initially borrowed a gross loan of £197,453 against a purchase price of £276,000 and will spend around £15,500 on a complete refit. The post-work valuation is expected to come in around £325,000 so when the work is completed...