
UK mortgage for returned Australian resident with complex income
The Scenario
Our client was a Briton with Australian citizenship who had been living in Australia for 10 years.
He’d moved back to the UK with his partner to care for his ailing mother. They were renting in London for £2,400 a month, but wanted to buy in Bristol to be closer to his mother. They were looking for £500K at 95% LTV to buy a handsome flat in Clifton, Bristol.
In mortgage terms, his setup was complicated.
Due to a reciprocal treaty, UK finance is notoriously difficult to arrange for Australian residents, or Britons resident in Australia.
He was clearly a British citizen, now resident here. He was CEO of an Australian health retreat, which was owned by an investment trust company, of which he had been the sole beneficiary. But he had sacrificed his shareholding to become a salaried employee of the trust.
He’d needed to delay buying a UK property while he established a UK presence for his credit files (credit cards, listing on the electoral roll…)
And then, very sadly, his mother died, and he overlooked drawing a salary from the trust one month.
The Solution
With his Clifton purchase now proceeding, he was now missing a critical income payment in his account.
Fortunately we knew a lender who might be willing to understand the circumstances.
We had his mortgage offer was through within weeks: a two-year fix at a very respectable 1.89%.
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.
Mathew Phillips
Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Adam Arnott
Associate Director
Bristol
0117 205 0214
Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.