A hassle-free relocation to the Isle of Man
Our client’s wishes
A UK-based couple approached Nedbank Private Wealth through an Isle of Man law firm, looking for support with a new home loan. The couple had made the decision to move to the Isle of Man because of their concerns over the UK’s economy and recent legislative changes.
They had found their ideal home in the Isle of Man, valued in the region of £5 million. To complete the purchase, they needed a £3 million mortgage.
Our clients' situation
As new clients, it was important that we fully understood their financial position.
Although the primary applicant was retired and in his late 60s, they had a strong and reliable income stream from investments, as well as significant cash reserves. This provided the reassurance we needed to proceed with confidence.
While the couple were not under immediate pressure, they did need a formal mortgage offer by a set date to exchange contracts, ensuring the seller could make a timely move.
To meet this deadline, we quickly arranged a face-to-face meeting with one of our senior Isle of Man private bankers, alongside a lending specialist from London. This meant we could progress their application efficiently.
We worked closely with the couple to structure a mortgage that truly suited them: a 7-year term with a 5-year fixed interest rate, giving them protection against today's unpredictable market conditions
Our clients' outcome
We worked closely with the couple to structure a mortgage that truly suited them: a 7-year term with a 5-year fixed interest rate, giving them protection against today’s unpredictable market conditions. With no plans to repay early during the fixed period, this mortgage gave them exactly the stability they were looking for.
We moved swiftly to secure their mortgage approval, allowing them to exchange contracts within a few weeks – a major milestone on their journey to a new life in the Isle of Man.
They are now in the final stages of completing their purchase, shortly taking possession of their new home.
This case is a great example of how we are able to create a bespoke lending solution for a client with international plans, offering certainty, flexibility, and complete peace of mind during their relocation.
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Contact
Get in touch with a member of our team to find out how Nedbank Private Wealth can help you achieve your financial goals and objectives.
Email our credit specialists directly at [email protected] or call +44 (0)1624 645000 to speak to our client services team.
Any examples of investments and structures used are for illustrative purposes only. This case study does not constitute an invitation or inducement to buy any financial investment or service. None of the content constitutes advice or a personal recommendation. Individuals should seek professional advice, based on their jurisdiction and personal circumstances, before making any financial decision.
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