Case studies
Nigerian national and resident purchasing their first UK buy to let investment
Buy-to-let
Nigerian Resident
About the client
- Our client was a Nigerian national and resident.
- Self-employed with the use of an internationally recognised accountants
- The clients had exchanged off plan and approached us a late stage with a short window to complete.
Solutions
- We secured the required Buy to let mortgage within the required timeframe
- The bank we used have a focus on Africa and sub continental clients.
The key figures and terms
- The purchase outline:
Purchase price
£1M
Mortgage
£650K
Client deposit
£350K
Loan to value
65%
- Purchase costs:
Stamp duty
£78,750
Solicitor cost
£5,000
Mortgage valuation
£1,500
Bank fee
£3,250
Total
£88,500
- Clients total cash investment:
25% Deposit
£350K
Purchase costs
£88,500
Total
£438,500
- Mortgage terms:
Product
5 year fixed
Rate
5.38%
Term
5 years
Payment type
Interest only
Monthly payment
£ 8,827
