Case Study: Overseas Property Investor

In October 2013 we received an enquiry from a property investor wishing to purchase a buy to let property in Chichester. The purchase was for £243,000 and they had £125,000 of cash to invest. Sounds straightforward enough, except that the individual was living and working in Germany. They knew the local Chichester area and already owned one investment property locally but had not lived in the UK for over 6 years. They had already been declined by one overseas bank and their broker had drawn a blank in finding any other alternatives.

With access to many specialist lenders we contacted one in particular whom we felt might be able to help. They had a specific buy to let product for overseas investors that would allow loans of up to 75% of the purchase price. They require that the borrower is a UK national and has an employed income overseas. We secured a discounted rate of 4.49% with a £2,500 lender arrangement fee. (APR 6.7%, the overall cost for comparison. The actual rate available will depend on your circumstances. Ask for a personalised illustration.)

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