The Client
The Client is an Expat and Teacher who has been working in Thailand for more than 6 years for a company based in the UK. Their husband works for a major holiday booking company and has been working with them for more than 5 years.
After an initial conversation, looking at their criteria and based on their country of residence, it was going to be challenging since some lenders have a restrictive list of countries that they lend to.
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The Scenario
The clients had been saving from their income and had saved a healthy deposit and had found a property that was best suited for the rental returns they were looking to achieve. The clients were putting down 30% deposit and needed a Specialist Mortgage Adviser who was experienced in dealing with Expat Mortgages.
The Solution
Initially we considered looking at a certain High Street Lender who lend to Expats through their international business arm, however, due to their restrictive list, we had to look at our wider whole of market specialist Lenders. Not only was the selected Lender able to provide the client with an Expat mortgage, but the whole process was also quick and seamless, and we were able to lock in the product for the client the same day. In this current volatile market, this is essential as the interest rates for lenders have been changing frequently. Any delays in the process could mean that the clients could end up with worse deal, since the interest rates are mostly on an upward trajectory at the moment.
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Summary
A lot of international Lenders are keen to lend to Expat clients, however, many restrict their market depending on the countries they support. The speed and expertise of service in this market that we can provide could mean that we are able to source the best products for our client before there is any active movement in the market.
If you have any questions about Foreign National or Expat Residential or Buy to Let Mortgages and would like to receive a free quotation or advice, please call 03303 112 646 today. You can also fill in this short online form to get started. A member of our Specialist Expat Mortgage Team will get back to you straight away.