Foreign national BTL

Compare Octane Capital Finance Rates | Pitch4Finance

Case Study

Scenario:

  • Borrower is a Chinese national living in China.
  • She has no credit footprint in the UK (she doesn’t even have a UK bank account).
  • Looking to purchase a £300,000 flat in Manchester.
  • 100% of the deposit will be gifted.

Octane Solution:

  • 65% LTV
  • 5.99% rate, with 1% deferred, giving a pay rate of 4.99%.
  • Monthly payment based on the 4.99% pay rate.
  • No stress testing – 100% ICR at the pay rate.
  • 5 year term, with no ERCs in the final 2 years.
  • 2% procuration fee to the introducing broker.

If the borrower owned one other UK property we would be able to offer 70% LTV on a cheaper rate.

A reminder of the other types of deals we can help with:

  • First time buyers/first time landlords
  • Borrowers with adverse credit or low income
  • HMOs (up to 24 rooms)
  • MUFBs (up to 30 units)
  • Semi-commercial
  • Residential above commercial
  • Low yielding property (remember we do not stress test)
  • Portfolio refinances and larger loans

Click here for the product guide.

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