Securing a £4.9m loan on a Central London Buy-to-Let property for a non-UK resident.

Key Details

  • UAE Resident/UK Passport holder (Born in Russia)
  • Purchase of ₤7,000,000 GBP London
  • Facility of ₤4,900,000 secured London buy-to-let (BTL )
  • 70% LTV on Interest only basis
  • No Assets Under Management (AUM) requirement
  • 7-week turnaround from submission of documents to drawdown

Client Profile

GSB Private Finance was first introduced to this enquiry on 2 March 2023. The client, a UAE resident and UK passport holder was purchasing a buy-to-let (BTL ) property in Central London and had already accepted an offer of ₤7,000,000. We were, therefore, under immense time pressure to find a lender and complete the deal within a short time frame.


Numerous factors made this deal challenging, given the timeframe. The first was that the client was born in Russia and lived in the UAE. Whilst Source of Wealth was outside of Russia, the fact that there was a connection to the country meant that several lenders had no appetite because of the ongoing conflict in Ukraine. It became quickly apparent that even those who did would apply a higher level of due diligence to the account opening, which had the potential to make us miss the completion deadline. As a UAE resident, there were challenges because of the countrys position on the FATF grey list, making it a higher-risk jurisdiction.

As former Private Bankers, we understood the potential onboarding issues that the client faced. We had to source a trusted lender to provide keen and competitive terms whilst also applying pragmatism to the low-level risks involved with onboarding the client, despite the Russian connection and UAE residence.

The other main challenge was passing the Bank’s affordability tests. The Central London property being purchased had a low rental yield, and with Banks stress-testing affordability based on increasing interest rates, we had to find a lender willing to take the clients wider income and wealth into the equation. To complicate this, the client was self-employed and drew income across multiple companies in various currencies across different jurisdictions.


After speaking with several potential lenders, we decided to proceed with a London-based Private Bank with Middle Eastern roots. We were confident that the Bank would approach the onboarding positively, given their experience and exposure to the Middle East market. We also had a good understanding of their out of the boxapproach when assessing income and affordability, which is something a good Private Bank will always do well.


From submitting the required documentation, the Private Banking team achieved credit approval, account opening, valuation, offer letter distribution, and legal work commencement in under three weeks. The financing was completed in under seven weeks, a terrific outcome.

Are you ready to discuss your property investment funding requirements?

To find out more about how GSB Private Finance can help secure your property investment funding requirements, don’t hesitate to contact GSB Capital.

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