Case studies
UK resident, Non-Domicile, Home purchase
Live-in
UK Resident
About the client
- Our client was a Brazilian national, UK resident, and non‑UK domiciled.
- A self‑employed businessperson, he owned and operated multiple companies across Latin America, with all business income generated offshore. In addition to his Latin American income, he also held a significant managed investment portfolio overseen by a private wealth manager in Geneva, Switzerland.
- The client had a specific request for a Sharia-compliant mortgage
- The client was ok to open a new bank account, but did not want to place any cash or assets as a condition of the mortgage.
Solutions
-
We work with all Sharia complaint lenders operating in the UK and were able to secure the following:
- 70% Loan to value Sharia compliant mortgage.
- Holiday home terms, which permit the client to use and let
The key figures and terms
- The purchase outline:
Purchase price
£1.5M
Mortgage
£1.05M
Client deposit
£450K
Loan to value
70%
- Purchase costs:
Stamp duty
£168,750
Solicitor cost
£5K
Mortgage valuation
£1,500
Bank fee
£10,500
Total
£185,750
- Clients total cash investment:
30% Deposit
£450,000
Purchase costs
£185,750
Total
£635,750
- Mortgage terms:
Product
Boe Base rate tracker
Profit rate
2.75% + Base
Term
5 years
Payment type
Profit only
Monthly payment
£3,937
