Foreign National with no credit history

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Proposition

Our client is a 67 year old living and working in Dubai. He is Australian passport holder, with no substantial assets in the UK. He has a good annual income, but no credit history. Before meeting us he had resigned himself to having to liquidate £650k of Australian assets in order to purchase - in cash - a retirement home in UK.

Solution

Having discussed the situation with him, we have negotiated - with one of our private bank partners - an interest-only loan up to 60% loan to value (LTV ratio) over a rolling 5 year term.

He intends to repay the loan by the age of 75, but was pleased with the flexibility that this arrangement gave him, both with his Australian assets and with his monthly payments.

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

© 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 4.96 stars by Reviews.co.uk based on 734 merchant reviews

4.96 / 5 Rating
734 Reviews
The service from initial contact through to the end of the transaction was absolutely excellent in all respects, particularly ease of contact, clarity of information and certainty
Michelle Clack is an exelent broker, she help me to get a good deal when I did remortgage for my property. She is an pleasant and professional lady, always on the other end on the line when is needed. Thanks to her the mortgage was organized in a short period of time.
Always first class service. Swift and easy.
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