Purchase of New Build flat – total loan of £891k
The situation: An introducer to Commercial Expert Ltd approached us with a client he was struggling to obtain finance for. The client was a high net worth foreign citizen living outside the UK. He was purchasing a new build flat for £1,485,000 and had paid a substantial deposit already. The client had no property experience or credit file in the UK.
The solution: We approached a Tier 3 lender who specialise in foreign citizen buy to let. This lender as a Multi-National lender is able to do further searches on foreign citizens and got comfortable with the client and affordability. The lender agreed to lend him £891,000 over a 3 year term, allowing the client to get the much needed UK credit history required.