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Our client, an English national, had recently moved back to the UK and purchased a property using a Private Lender to do so. The property was a detached country home, with three holiday lets on the same title. They were now looking to refinance their existing mortgage of £1.1 million against the property value of £1.5 million.

The client wanted a part repayment and part interest-only mortgage with a preference for a discount variable rate.

While the client had a high income and could afford the mortgage, there were several complexities in the case as follows:

  • The client’s income is derived in USD.
  • The client had only recently moved back to the UK and therefore we would need to find a lender who could consider a refinance within six months of owning the property in question.
  • We needed to also find a lender that was not only comfortable with having three holiday let properties on the same title as the main residence, but also able to factor in the projected rental income from these properties when assessing affordability.


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With access to every lender on the market and vast experience negotiating property finance of every kind, Private Finance’s expert brokers are equipped to find solutions to mortgage-related problems, even complex situations such as this.

Our expert consultant was able to find a lender who could not only utilise the foreign income and look past his lack of UK credit footprint, but they could also use the projected income for the holiday let cottages to boost his affordability. A part repayment and part interest-only loan of £1.1m was arranged for a term of 9 years, on a discount variable rate of 4.24% for a three-year period.

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