Malaysian nationals with complex income requiring bridging finance 

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Proposition

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.

  1. The clients were Malaysian nationals requiring finance on a UK property and moreover the primary earner is a non-UK resident.
  2. One of the clients is classified as a politically exposed person and therefore we needed to find a lender who would consider this.
  3. The clients required short term finance in order to purchase the property they had found while their current property was on the market.
  4. 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.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

© Private Finance Limited, 2020. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 29 Lincolns Inn Fields, London, WC2A 3EG, registered in England no. 3855776 and its Appointed Representatives. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

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