Case study: Mortgage for individual with foreign currency income

The borrower

A broker approached Investec to support a high-net-worth client who was looking to purchase a six-bedroom home in south west London for £3m. The client is an investment banking director with a complex income structure including foreign currency.

The problem

The client was looking for a high LTV mortgage. However, the client’s income structure was complex and consisted of a monthly salary, allowance, basic bonus and average deferred stock awards. An element of this income was in US Dollars. This complexity needed to be considered to give an appropriate view of affordability.

The solution

Investec was able to provide a 90% LTV mortgage for the client’s home, with capital reductions payable during the first five years to reduce this LTV, at which point it will then revert to a fully amortising structure. We were able to look at the individual’s wealth holistically and provide some flexibility on repayment structure with an interest-only element and the capital reductions at appropriate times.

We have a long track record of working with individuals with complex lending needs. If you have a client with similar mortgage needs, please don’t hesitate to get in touch with our team.

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.