Shawbrook provides residential investment financial for expat client

19 September 2016

Just 8 business days between issuing the formal offer and completing…

Completed on Shawbrook Commercial’s RI0 product for simple residential investment, this case featured an expat client residing in the United States who wished to purchase two new build apartments in the same Central London building.

With one of Shawbrook’s Broker Partners acting as intermediary, the case proceeded on two separate applications, both for £418k at 76% LTV resulting in a gross loan value of £836k. By splitting the loan in this way, the broker’s client was able to proceed on the RI0 product.

Shawbrook usually only lends up to £750k on RI0 but, considering the broker’s client had a strong income and three separate BTL properties in their portfolio, the Shawbrook Senior Management team were comfortable in splitting the application and took a pragmatic view in order to ensure the most competitive rate possible.

With the outside income of the client proven to be so robust, the Shawbrook lending team was able to progress the case on a Capital & Repayment basis to be paid back over 15 years.

Shawbrook Commercial’s client base extends not only to the United States, but Qatar, China, Japan and many other countries besides with a keen appetite to lend to expat clients.

Emma Cox, Sales Director for Shawbrook Commercial commented:

“Expat property investors are a key market for us. We look at each case on its merits whether the client is based in the UK or abroad.

“Our underwriting and lending teams are pragmatic in their approach and encouraged to make intelligent lending decisions, based on the expertise they have gained over many years. This is demonstrated well by this case, with the client receiving the necessary finance to purchase two properties and within a swift timescale too.”

This case study is for professional intermediaries only and should not be distributed to potential clients.