A broker introduced us to a private equity professional who is a Canadian citizen and a UK resident but is paid in US Dollars. He is also liable for both UK and US tax payments.
The client was looking for an interest-only mortgage with a high residual balance as the majority of his income was earned and taxed offshore. His pay structure was complex and included his base salary, a bonus and carry, while the property was unusual. The substantial new-build in the Cotswolds was set in 31 acres with a separate coach house and outbuildings.
Investec was able to offer an interest-only mortgage of 75% loan-to-value for the £7m home using the client’s base salary and worked efficiently to enable completion within four weeks.
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