Remortgage in Scotland for an expat in Saudi Arabia

Dan Gracie

Specialist Lending Director

The Requirement

The owner of a property in Scotland was referred to us by a building society who were unable to lend against properties outside England & Wales. He worked in Saudi Arabia and earned in Saudi Riyal, which made the case harder as any prospective lender was going to have to take his income into consideration as the rent he earned from the property was not sufficient to justify the loan size required.

He also wanted a two-year variable rate to stay in line with UK rate movements at a time when some of the key lenders who could accept expats in the Middle East were only providing five-year fixed rates for this type of mortgage scenario.

The Solution

We ascertained which lenders can lend based on Saudi residency and SAR income and approached another building society with whom we have a great relationship. We worked with the underwriter to evidence how the mortgage would be affordable if both rental income and employed earnings were incorporated into their buy-to-let affordability calculations.

In response to our proposal, the lender offered a two-year variable rate mortgage, aligning with the client’s requirements. Notably, the society’s interest rates were reduced before the completion of the remortgage process and the lender agreed to honour the lower rate, demonstrating a commitment to provide favourable terms.

Our team are here to help

Our professional advisors would be delighted to speak with you and discuss your requirements.

What our clients say!

Our clients trust us to guide them through some of their greatest financial decisions.

“The team at Panthera Finance have provided an outstanding service, going the extra mile with attention to detail to secure a bespoke mortgage product. I would commend Panthera to all those seeking tailored financial products unavailable on the high street or through non-specialist agents.”

Tom G.

“It’s a pleasure working with Tim, Dan and the team at Panthera. The way they use their knowledge and experience of what can be very complicated situations to structure and shape cases is always impressive and has helped build a strong and trusting relationship with us as a mortgage lender.”

A.S.

“The support and service from Anthony and Rhiannon has been superb - especially your patience while we were on hols and things. I think this is now the 3rd time Panthera has assisted us and we have been impressed every time, you will be our first choice every time.”

Ben R.

“Dan and Rhiannon are your perfect finance team. I have worked with them for many years now and I am in awe of their professionalism, comprehensiveness and thoroughly managing deal flow every time. I trust Dan to source and manage the best possible deals for me in the marketplace; noting he has many senior banking connections to call upon, when deals can appear to be outside of the box, as they frequently do in today’s market.”

J.D.

“After some issues with other providers Panthera came through with a great service. Always great to work with professionals, and would certainly recommend their services.”

Brian M.

“We are so thankful we were referred to Dan and the Panthera team for our mortgage process. Our plans to purchase a home in the UK moved a little quicker than we planned, but Dan's knowledge and support made the process smooth and effortless for us. Dan and Rhiannon had the best communication and provided updates quickly for our mortgage to be approved as soon as possible. We are so grateful for Panthera Finance and look forward to our new home!!”

Jason & Haley S.

“Working with Anthony at Panthera on mortgaging and remortgaging several times on property has always been seamless. Deeply knowledgeable, he listens to what I need and works extremely hard and quickly to get the right product. ”

F.L.