Case study: Expat Residential

Our Expat Residential range could be suitable for your expat clients who want to purchase a residential home in the UK for their family to live in or use as a base when they return. Here's how we helped George with an Expat Residential solution. 

Meet George…

George is a UK National working in Singapore who sought to mortgage a £1.4 million residential property in the UK. His wife, a foreign national with full rights to reside in the UK, and their two children would live in the property full-time, and he required a loan of £1.12 million (80% LTV).

What is George’s lending problem?

George's foreign income, the type of property and his wife’s residency status meant the case needed a considered and balanced approach. In this case, the property spans 23.5 acres and includes grazing rights. Potential challenges with larger landholdings include future marketability and valuation difficulties due to the lack of compatible properties. Grazing rights also need to be carefully assessed.

What was our solution?

We approved the mortgage at 80% LTV. This case demonstrates our ability to support expat clients with complex circumstances, while remaining within our policy limits. 

What it also tells us is that expat applications can be successfully supported on non-traditional homes when you consider the full picture and assess applications on a case-by-case basis.  When it comes to larger landholdings, high acreage and additional rights (such as grazing), can be acceptable when it’s clearly evidenced as ancillary, ensuring no commercial use. 

It's this common-sense approach to lending that means we can help support more clients by offering solutions, like our Expat Residential range, that work with modern lifestyles and overseas working arrangements.