An existing client of Investec in South Africa was seeking to raise liquidity by mortgaging his existing London property. The client is a successful individual working in finance and technology.
The client needed a mortgage that took into account his status as a non-UK resident and foreign currency income. The client was looking to invest the funds. He had liquidity in South Africa but required SARB approval to release funds which can be a slow process.
Taking into account his complex income structure and existing assets, we were able to provide a mortgage of £3.9m secured against his six-bedroom home. This allowed the client to increase his UK cash flow without needing to remit funds from SA.
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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. However, if you live, work or are domiciled overseas, it doesn’t have to be a barrier to applying for a mortgage in the UK. If you call the UK home you can still benefit from the same flexible mortgage service that makes us a fresh alternative.