Over the last few years, we have arranged property finance for more different nationalities across the globe. Securing mortgages for residential property for foreign nationals is a challenging process, especially for those who don’t reside in the country of purchase.
We were recently approached by an Nigerian national who was looking to purchase residential property in London valued at £6 million.Sadly, most of UK lenders consider Nigeria a ‘high risk’ country and are reluctant to lend because to the increased due diligence required.
The reality is we have access to over 250 banks that will consider foreign nationals and it gives us incredible breadth for arrangement. In that capacity, we had the option to assemble an alluring bundle for the £6 million mortgage.
The fact we are able to talk to in excess of 500 different lenders gives us great scope for negotiation. As such, we were able to put together an attractive package for the £3.4 million mortgage.