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Trinity Financial received an online enquiry from a British journalist living and working in Australia. He had found a property in Richmond that he wanted to purchase as a buy-to-let investment.

Case details and solution

Securing a buy-to-let mortgage can be difficult if clients live in Australia, although we found a private bank happy to lend.

Property: Three bedroom house in Richmond for £1,100,000.

Required mortgage: Client needed to raise £500,000.

Rate: 3.75% term tracker. This is based on a term tracker LIBOR tracker plus a margin of 3.20%.

Term: The mortgage will be taken over a 5-year term. This is typically renegotiated with the lender or broker once it expires.

Lender''s arrangement fee: 1% of the loan amount.

APR: The overall cost for comparison is 3.8%.

Repayment type: The mortgage can be taken on an interest only or capital repayment basis. Our client took interest-only on this occasion.

Early repayment charges: 1% of the mortgage amount must be paid within two years.

Trinity can help:

If you are an expat living and working outside of the UK and looking for a mortgage, call us on 020 7016 0790 or email enquiries@trinityfinancialgroup.co.uk
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