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Holiday home remortgage for UK Expats living and working in Singapore
This is a great case study on how Liquid Expat Mortgages helped British expats in Singapore to remortgage their Cotswolds holiday home property.
The scenario
A husband and wife couple who were both living and working in Singapore were looking to refinance a holiday home in the Cotswolds.
The couple were looking to refinance a family holiday home in the Cotswolds which had been bought on a three-year fixed rate product. The fixed rate product on the property was coming to an end and the clients were keen to secure a new product, but at the same time but also release some equity to carry out work on the property and increase the sleeping capacity by adding a further bedroom.
How Liquid Expat Mortgages dealt with the situation
The customers were both self-employed. One was a solicitor working for a large international law firm, and the other was a lecturer at the National University of Singapore.
Although their income had been impacted by COVID-19 they still had enough income coupled with the price increase in their holiday let property to allow a competitive product to be sourced.
Firstly, all the couple’s details were presented via the Liquid digital fact find to several lenders we knew would look favourably at the proposition. To ensure that the decision could be made quickly and efficiently so we didn’t waste our customers’ time with time differences and the like, all documentation had been collected upfront and the case was pre-agreed with the underwriter so they could move quickly. This allowed them to instruct architects and building surveyors to start drawing up plans so work could be carried out in the close season and the building work would be completed before the main holiday season started again.
The result
Despite a drop in income lenders were happy that this was only temporary and the remortgage for their holiday home was secured on a five-year fixed rate at 1.89% on an interest only basis. This allowed them to quickly engage the required professional services for work to be carried out and to be ready for the new holiday season.
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.
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