British Expat In Cameroon Buying Dream Home In Wales



Our client – a British expat living in Cameroon – wished to purchase a six-bedroom country home on the outskirts of an idyllic Welsh village. The property on which he had set his sights was up for sale for £750,000, and he had a deposit of £250,000, meaning that in order to purchase his desired property, he needed a mortgage of around £500,000.

By the time he came to us, our client had already approached a number of high-street lenders in the hopes of acquiring the finance necessary to facilitate his home-buying ambitions. These ambitions, however, were quickly deflated when he found that he was unable to secure the funding he required because he failed to satisfy the standard high-street criteria demanded of borrowers.

The reasons for this decline were numerous. Firstly, our client was living in Cameroon, which was – and is – regarded by lenders as a high-risk jurisdiction. This fact alone was sufficient to deter many of the high-street lenders from considering his case, because such lenders are often categorically unwilling to entertain applications from residents of such jurisdictions – but this was not the only factor working against our client.

At the time that he came to us, our client was working for a Swiss Oil company and getting paid in Swiss francs. This presented an additional obstacle, because lenders are often unwilling to accept certain kinds of foreign currency as income. And as if these two realities were not sufficient on their own to thin out the field of lenders to almost nothing, our client was a portfolio landlord, which reduced his chances of obtaining a mortgage even further, because lenders stress background portfolios with strict criteria, so if the rent from portfolio properties is low or if they are highly geared then they are counted as commitments.


As a whole of market broker, Private Finance has close working relationships with a huge pool of lenders, of whom many are often willing to consider the applications of highly atypical mortgage-seekers. In this instance, our client was about as atypical as it is possible for a prospective borrower to be, which reduced his chances of being able to obtain the mortgage he desired drastically. That said, after locating the lenders that we knew had a precedent of offering mortgages to individuals located in high-risk jurisdictions, and after running the specifics of our client’s situation past these lenders, we were able to find a lender who was willing to offer our client the mortgage he needed in order to purchase his dream property.

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We were able to secure our client a two-year fixed-rate mortgage of £500,000 at a rate of 3.14% with a loan to value of 70% and with no assets under management.


© Private Finance Limited, 2019. 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).

Private Finance Ltd is rated 4.95 stars by based on 593 merchant reviews

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593 Reviews
Mortgage advance received today. The service was simply great. I tried approaching couple of banks directly prior to contacting private finance but after going through PF I felt it was money well spent and prices was simply hassle free. The service and advice was simply great. Being a first time buyer, I had several questions. Anuj was my advisor. This rating is mostly for his service. He was very patient in explaining details and options I had. With limited validity on my visa my colleagues told me that, I will have only one or two options and I din't have a great experience directly dealing with banks. Anuj got me better mortgage options given my situation. He was very responsive and friendly. I also had some target in terms of timelines due to my vacation. He made sure that everything was sorted out before I left for vacation. Great experience. I would definitely recommend. Special thanks to Anuj for amazing support.
I returned to Nathan when renewing my mortgage as he had given me such great service in the past. He has been extremely helpful both in securing a good deal and making my options very clear. I would highly recommend him.
Fast and efficient service from Michelle Clack at Private Finance. She quickly understood our remortgage requirements and came up with some good solutions. The process was efficiently managed and without any stress for us.
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