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Helping a non-resident couple turn their investment aspirations into reality

Our clients’ wishes

Mr and Mrs S, both in their mid-fifties, are non-resident Indian nationals living in Dubai, who were wanting to purchase an investment property in the UK. Their broker contacted Nedbank Private Wealth’s lending team to assist the couple with their purchase, which the couple intended to structure as a joint borrower/sole proprietor mortgage.

Mr and Mrs S were looking for a mortgage of £812,500, secured against a property valued at £1,250,000. This resulted in a comfortable loan-to-value (LTV) ratio of 65%, well within our buy-to-let mortgage parameters.

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Our clients’ situation

Mr and Mrs S held assets in Singapore, India and the UAE, but with Mr S recently retiring from his senior roles, there was little income evidence which could be utilised to support the facility. The anticipated rental income from the buy-to-let property alone wasn’t enough to support the debt servicing.

Mr and Mrs S were looking for a mortgage of £812,500, secured against a property valued at £1,250,000. This resulted in a comfortable loan-to-value (LTV) ratio of 65%, well within our buy-to-let mortgage parameters.

How we helped our clients

By working with our client, their broker and their accountant, we were able to determine that Mr and Mrs S’ net worth was in excess of £15 million and that they also had two liquid investment portfolios totalling in the region of £5 million which would also be available to be drawn from if required.

Although there was a gap between the estimated rental value and the proposed new mortgage payment, Nedbank Private Wealth took a cash deposit of £20,000 from the client, providing extra security to the bank. This deposit would be held for the duration of the loan.

Addressing their concerns about recent interest rate volatility in the UK market, we conducted a thorough review of the client’s financial situation. As a result, we were delighted to assist Mr and Mrs S with a 5-year fixed-rate mortgage, ensuring a smooth path to their new buy-to-let property.

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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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