Securing a Complex Foreign National Mortgage for UK BTL Property

Navigating the complexities of the UK property market for expatriates requires specialised knowledge and a robust network of international lenders. At Diamond Property Finance, we recently assisted clients based in Dubai, holding Italian passports, in acquiring their first investment property in the UK—a modern new-build flat in a prominent 41-storey development in Manchester.

Case Profile:

The clients, both working professionals in Dubai, aimed to secure 75% loan-to-value (LTV) financing to purchase the property valued at around £350,000. Their lack of a UK property history and credit footprint, combined with their non-resident status, initially disqualified them from many traditional lending routes. Understanding the full scope of their lending profiles was crucial, which we addressed in a detailed initial consultation to align their investment goals with feasible financing strategies.

Solution:

Leveraging our decade-long experience working with expatriate and foreign national mortgage lenders, we meticulously curated a list of potential lenders who were open to considering less conventional borrower profiles. Our approach involved presenting a well-rounded view of the client’s financial stability and investment intent to lenders known for their holistic assessment practices.

One Middle Eastern lender, familiar with the nuances of expatriate circumstances, showed particular interest. Through close collaboration, we ensured all necessary documentation was meticulously prepared and submitted, leading to the successful procurement of the desired mortgage. The financing was arranged on an interest-only basis at a competitive rate of just over 5%, accompanied by a 1% lender fee.

The completion of this mortgage allowed our clients to make their first investment property acquisition in the UK. They were extremely pleased with the tailored service and strategic guidance provided, expressing intentions to engage Diamond Property Finance for future investments.