Providing-a-refinance-for a-UK-primary-Singapore-header-happy-couple-

Providing a refinance for a UK primary residential purchase for a married couple currently residing in Singapore

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Our client’s wishes

Our clients, a married couple living in Singapore, were looking to purchase a prime residential property in London to serve as a long‑term base when travelling to Europe.

Although the clients live overseas, their adult child – already a resident in London – would occupy the property. However, they would not be named on either the mortgage or title deeds.

To complete the purchase, our clients required a mortgage of approximately £1.15 million secured against a £1.9 million purchase price. Alongside competitive pricing, they were keen to build a new private banking relationship, with scope for broader financial support over time.

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Our clients’ situation

Our clients are New Zealand and Singapore nationals, with a combined income that was not sufficient under standard income-multiple affordability criteria.

However, with our flexibility we were able to take a holistic view of the clients’ financial position.

The clients held substantial liquid investments across diversified portfolios in New Zealand Dollars and Singapore Dollars, totaling approximately £6 million which could be comfortably used as additional income or used to meet the mortgage payments if required.

Given the value of these holdings, we were also safe in the knowledge that some of these investments could be liquidated to repay the overall mortgage exposure at the end of the mortgage term, if necessary.

Our clients are New Zealand and Singapore nationals, with a combined income that was not sufficient under standard income-multiple affordability criteria.

Our clients’ outcome

Mr X required a maximum mortgage term of 11 years, aligning with his broader financial strategy to repay the facility through a planned bullet reduction at his anticipated retirement age of 75.

We therefore structured the facility as an 11-year interest-only mortgage, fully aligned with this strategy and supported by clearly evidenced and credible repayment vehicles. The facility was placed on a variable rate, providing the clients with maximum flexibility to make overpayments or bullet reductions at any point during the term, without incurring early payment penalties.

The transaction was approved, following a satisfactory valuation and the clients’ acceptance of the offer. The case has progressed to the solicitors and completion is anticipated to take place around May.

Our clients were delighted with the flexibility and bespoke approach provided. We are now progressing discussions around their broader assets and holdings, alongside an introduction to a Private Banker, with a view to developing a longer-term relationship.

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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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