supporting-a-us-clients-property-purchase-in-the-uk-header-english-house

Supporting a US client’s property purchase in the UK

Our client’s wishes

Mr F is a US citizen and resident who was looking to purchase a property in London for his daughter before she started at medical school. The family had found a property valued at £1,475,000 which required a £500,000 mortgage, which Mr F planned to finance through a Lombard loan and a joint borrower, sole proprietor mortgage. He was eager to move quickly to align with his daughter’s academic schedule.

Cose up to a monarch butterfly on a flower
Our clients' situation

Mr F had a successful career before retiring, and his wealth had continued to grow through a well-managed investment portfolio. While the dividends from his investments covered some of his living expenses, with this new mortgage, they weren’t quite enough to meet all of his financial commitments.

To secure the mortgage, we worked closely with Mr F to understand his full financial circumstances, ensuring we had the necessary proof of financial resources to cover the mortgage payments. The property the family was interested in was leasehold with 80 years remaining on the lease, which is the minimum allowed under the Nedbank Private Wealth policy.

Mr F had assets held a Trust, which were due to be accessed in early 2025. The distributions from this Trust were earmarked to cover the mortgage repayments once available.

By taking the time to fully understand Mr F’s financial situation, we were able to confirm that while his investment portfolio and dividend income alone didn’t meet the full mortgage repayment requirements, the Trust would provide the necessary resources once it became available in 2025.

Our clients' outcome

By taking the time to fully understand Mr F’s financial situation, we were able to confirm that while his investment portfolio and dividend income alone didn’t meet the full mortgage repayment requirements, the Trust would provide the necessary resources once it became available in 2025.

The property’s leasehold, with 80 years left, met our criteria, however, there were already plans in place to extend the lease after the purchase, ensuring everything would comply with the mortgage terms.

Once the application was submitted, our credit risk team quickly reviewed and approved the mortgage, making the process smooth and allowing Mr F’s daughter to start planning her move to the UK. Throughout the process, Mr F kept us updated on the progress of the purchase, aiming to finalise everything before the stamp duty increase on 1 April 2025.

By taking the time to understand Mr F’s full financial picture and providing straight forward, efficient service, we helped him navigate the complexities of securing a UK mortgage as a US citizen. Our personalised approach ensured a smooth experience, giving his daughter a solid foundation to begin her studies in the UK.

Related news

You may also be interested in the following Insights

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.

Discover how we can help
Image showing a father and son on a bike
Related case studies

Read about more clients we have helped

We have helped countless high-net-worth clients with their financial needs – some straightforward, some complex. Our bespoke approach, where we really get to know our clients, allows us to offer solutions that other wealth planners and private banks aren’t able to.

View all