Residential Remortgage Into A Holiday Let Mortgage Case Study
This is a great case study on how Liquid Expat Mortgages helped British expats in Hong Kong to remortgage their UK residential property into a Holiday Let Mortgage.
Liquid Expat Mortgages were approached by customers living in Hong Kong who wanted to remortgage their current main residence but this time as a holiday let mortgage. They were lucky enough to have a main residential home in Scarborough, with great views over the coast. Their intention was to stay in Hong Kong for the foreseeable future and take advantage of the income potential from their Scarborough home.
The surge of staycation holidaymakers in the UK since the pandemic lockdowns, meant our customers were confident they could maintain high weekly rental yields even throughout the off seasons. They had an existing mortgage on their property with a high street lender, but they couldn’t offer the UK expat holiday let mortgage they required.
How Liquid Expat Mortgages dealt with the situation
We approached several our specialist lenders who were familiar with these types of scenarios. the lender was happy to re-mortgage their main residence to an expat holiday let mortgage which also allowed for the use of the property for up to 90 days per year. Even the fact that the that owners didn’t have any landlord experience, didn’t stop the lenders from proceeding as Liquid Expat Mortgages had presented a comprehensive appraisal of the applicants’ income and potential income based on local Holiday Let agents.
Based on the information our clients were able to secure a 80% Loan to Value product which allowed them to use their main residence as a new income producing investment vehicle.
UK Expat Mortgages & Remortgages
No mater where you are currently living or working around the world, Liquid Expat Mortgages can help you secure a expat holiday let mortgage in the United Kingdom. Contact us now for a free quote. Our fully qualified and experienced mortgage advisers will advise you on the best mortgage options available for your circumstances.Get A Free Quote
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