Cross-border mortgage support for a US National buying in the UK
A wealth planner, private bank and investment manager all-in-one.
Our client’s wishes
When a one of our valued broker partners reached out with a unique cross-border mortgage request, we were ready to help Mr A, an American living in Japan, purchase a home for his UK-based family.
The broker had contacted us about Mr A the year previous, but the original property purchase didn’t go ahead. This time, the purchase was progressing, and Mr A needed a quick mortgage approval of around £650,000, for a property valued at £1.6 million, to prevent the sale from falling through.
Our clients’ situation
To begin, we needed a clear picture of Mr A’s income, including bonuses. Since he was based in Japan, we also needed to understand his regular expenses and any housing allowances.
Although Mr A had only recently moved to Japan, he had been with the same investment firm for several years, working in locations such as Hong Kong and China. This gave us confidence in the consistency of his earnings.
Mr A was paid in Japanese Yen, which we can track for regulated mortgages. Like most lenders, we adjusted his income to allow for possible changes in the exchange rate between Japanese Yen and British Pounds.
He also had investment portfolios and Individual Retirement Accounts (IRAs) in the US, which could be used to support mortgage payments if needed. This added another layer of financial security.
We offered a 21-year term, which aligned with his long-term plans – whether that meant selling, downsizing, or using his investments or IRAs to pay off the mortgage at the end of the term.
Our clients’ outcome
We structured the mortgage as an interest-only facility, given the low loan-to-value (LTV) ratio of around 41%. Mr A preferred a variable rate tracker for the first two years, allowing him to make lump sum payments without early repayment charges.
We offered a 21-year term, which aligned with his long-term plans – whether that meant selling, downsizing, or using his investments or IRAs to pay off the mortgage at the end of the term.
The mortgage was approved within five working days. Valuations are now underway, and once the onboarding process is complete, we’ll move quickly to issue the Mortgage Offer. Both the client, his family, and the broker have been delighted with the speed and efficiency of the process so far.
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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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