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, 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).

Private Finance Ltd is rated 4.96 stars by Reviews.co.uk based on 919 merchant reviews

4.96 / 5 Rating
919 Reviews
I cant tell you how fabulous its been to deal with Private Finance and specifically Nathan Cole. My forte is not finance and he kept his cool during the whole process even through covid and his own personal stuff. Its been a delight! Explained things a million times when needed and not in a patronising way. Private finance will be the first people i call!
Exceptional level of service and always very quick to respond to any queries. We would highly recommend Private Finance and look forward to working with you again in the future.
Excellent service and follow up by Private Finance throughout the entire process. Highly recommend.
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