A client was looking to undertake a standard house move in order to be closer to their children’s school, however their circumstances and issues faced selling their primary residence provided an added layer of complexity for one of our consultants.
- The clients were Malaysian nationals requiring finance on a UK property and moreover the primary earner is a non-UK resident.
- One of the clients is classified as a politically exposed person and therefore we needed to find a lender who would consider this.
- The clients required short term finance in order to purchase the property they had found while their current property was on the market.
- The clients have a complex income situation, being self-employed, with income generated outside of the UK.
Solution & Lending Facility
On this occasion, our consultant arranged a bridging loan at 0.8% per month for a 12-month term – a highly competitive rate given the clients circumstances – enabling the client to purchase their desired property and once their property had sold, repay the loan.