Case study: 95% LTV mortgage for a lawyer with foreign currency income

Investec private bank offers a range of mortgage solutions for brokers who work with high-net-worth individuals. 

We recognise that many of your clients have a complex income profile, but want to leverage their wealth to buy a property. As our team creates bespoke mortgages and can consider elements of discretionary, deferred and foreign currency income, as well as dividends and stocks, we may be able to provide a higher loan-to-value than you think. We recently enabled a law firm Partner to buy a new home with a 95% LTV loan.   

By partnering with Investec, mortgage brokers can offer their high-net-worth clients the lending solutions they need to achieve their property goals. 

The borrower

The client was looking to purchase a turn-key Grade II listed property in south-west London to use as his main residence.

The problem

The client was looking to purchase their first property in the UK. Their wealth and investments were held offshore, and they did not wish to remit these to the UK. Furthermore, the client intended on using an unsecured credit line for the house deposit.

The client received basic salary in US dollars (USD). However, their bonus awards varied significantly and could not be evidenced as income.

The solution

Investec was able to consider the client's foreign currency income and make appropriate adjustments for USD currency volatility. We were able to offer an initial LTV of 95%, which would amortize over a relatively short term of 15 years. The mortgage was provided on a capital and interest basis on a lifetime tracker rate.

Important information

Your property may be repossessed if you do not keep up repayments on your mortgage. Investec residential mortgages are only available for residential properties in England or Wales and are primarily available to UK residents and subject to eligibility.