Case study: A 65% LTV mortgage for a city professional relocating to London

The client

A city professional had recently relocated to London from a European city following a new senior appointment. They wanted to buy a £1.5m high-end apartment in London as their new main residence. At the time of application, the client was living in temporary hotel accommodation with no permanent UK address.

The challenge

The client was new to the UK, with no UK credit footprint to draw on. Their net worth was held entirely in Europe, comprising an investment portfolio and two non-income-generating assets, while their income came from salary alone. Adding to the complexity, the purchase needed to progress to a clear timetable so the client could move out of temporary accommodation.

Our solution

Investec looked beyond the client's lack of UK history and assessed their overall financial position, including salary, investment portfolio and wider assets. As the client had no permanent address, we used their lawyer's address for correspondence. 

We provided a £1m mortgage on a 15-year interest-only basis at c.65% LTV. The repayment strategy was based on surplus income, and affordability remained comfortable even when tested on a fully amortising basis.

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. This is a case study based on the services we provide. Some details may have been changed for client confidentiality.