Case Study: 90% Mortgage for US National at Age 65

90% Mortgage for US National at Age 65

Area
Lancashire
Capital Raised
£400k

Securing a UK mortgage as a US national can be difficult - many banks and building societies will flat-out reject your application. But there are actually plenty of lenders out there who will work with you - and if you speak to a specialist mortgage broker, you might be surprised at the possibilities available to you.

This case demonstrates our problem-solving approach to providing solutions for extraordinary mortgage applications.

The Scenario

This client’s application was looking difficult to place from the outset:

  • She was a US national
  • She had been living outside the UK for around 20 years, although recently returned
  • She was 65 years of age, so would potentially need a later life lending product
  • She only had a 10% deposit
  • She would need to use pension income for her application
  • And she’d been told it was impossible to borrow the amount she needed by multiple other brokers and lenders

However, our adviser identified a few key points:

She was married to a Brit and had indefinite right to remain in the UK which solidified her UK residency if applying jointly.

And, she had an office-based job developing IT software which, as a low-intensity job, she could plausibly continue doing for many years to maintain her current income level – the importance of this will become apparent later.

The Solution

After taking a step back and looking at our clients’ broader financial situation, our adviser took the clients’ application straight to a high-street bank.

While it may be expected that this client would need a specialist lender and product for this type of mortgage - our adviser was confident he could place it with one particular bank due to their leniency on age limits.

For this lender, as long as it is plausible that the applicant can keep working until their mortgage ends, they can generally offer a mortgage - regardless of their current age.

So, for a 15-year mortgage, our client could be accepted on the basis that she could keep working her non-physical job as a software developer up to the age of 80.

Our broker liaised closely with the underwriters, ensuring our client’s pension income was accounted for, the loan to value was sufficient and the broader financial context and residency details were fully understood.

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

Are you looking for a similar type of property finance?

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Bridging Team

Clifton Private Finance

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

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As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Fergus Allen

Senior Finance Broker

Cardiff

0117 959 5094

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Book a telephone consultation at a time that suits you.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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