Trinity Financial arranged a mortgage for a British expat living and working in Nigeria. He was keen to ensure he had a property for his family to live in once he returns home from his posting abroad.
Case details and solution
As our client worked for a large oil company in Nigeria and was able to prove how much he earns, we approached a bank happy to accept applications from British expats working abroad.
Property: Three bedroom house valued at £350,000 in Hampshire.
Mortgage loan amount and rate: Approximately £275,000 taken on a two-year fixed rate at 3.94%. After two-years the mortgage reverts to the lenders standard variable rate currently 4%.
Lenders arrangement fee: 1% of the mortgage amount and added to the loan.
APR: The overall cost for comparison is 4.2%.
Term: 25 year term.
Repayment type: Interest-only mortgage.
Loan-to-value: Approximately 80% of the property value.
Early repayment charge: For the first two-years of the mortgage.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
Call Trinity on 020 7016 0790 to secure an expat mortgage. You can also email: firstname.lastname@example.org
May 15, 2014