This week's case study how Alexander Hall helped a non-UK national to buy a multi-unit block property.
Our clients' challenge
The client's requirements were complex, involving the purchase of a multi-unit block. A further challenge was that two of the flats were studios smaller than 25 square metres in size, which the majority of lenders would not consider lending on.
To add further complexity, our client had been living overseas for a number of years and had only recently returned to the UK. They consequently had a very limited UK credit history and could not demonstrate significant experience as a landlord in the UK. However he was able to demonstrate considerable experience as a landlord overseas.
Alexander Hall's solution
Our in house Specialist Lending team conducted detailed research and were able to find a lender willing to assess the properties collectively as a full block, instead of assessing the individual flats. This avoided the issue presented by the smaller studio flats.
The lender was also prepared to factor in the client's experience as a landlord overseas. The required loan of £700,000 was offered at a market leading rate for a multi-property loan.
