• Buying in: Antibes
• Property price: €680,000
• Loan Amount: €477,000
• Mortgage Type: Interest Only
• Mortgage Term: 14 years
• Interest Rate: 2.45%
• Loan-to-value: 71%

The background 

These serial buy-to-let owners were looking for their first overseas investment. Having sold their business a couple years ago, lenders were unable to account for the income from their new venture. 

Our approach

Thanks to a large asset base, and significant income from UK properties they could qualify for an interest only mortgage as the monthly cost is about half cheaper than a repayment mortgage as the capital is not repaid until the end of the term. With this product, life insurance is also optional so the client decided to arrange cover separately which allowed for a quicker mortgage process.

In the end, the clients were very pleased and told us that this was easier than purchasing a property in the UK. While most of our clients would certainly disagree, it’s nice to know we can compete with our UK peers.