Portfolio Refinance - 8 Properties, Consolidation from Singapore
£1,310,000 · 60% blended LTV · 5.45% fixed 3yr. An IT consultant of 11 years in Singapore consolidating eight BTL properties across four lenders onto a single specialist portfolio mortgage.
The Client
British national, 49, IT consultant. Has lived in Singapore for 11 years.
The Challenge
On SGD 220,000 pa contract income with nil UK income, the borrower held eight BTL properties across four lenders in Birmingham, Sheffield, Manchester and Leeds (total value £2,180,000, total debt £1,310,000, 60% blended LTV). They needed to consolidate all eight onto a single specialist portfolio mortgage. Fixed rates were expiring on five properties and three lenders had indicated they would not renew on a non-resident basis.
Our Solution
Doulton ran a full portfolio analysis, property by property, before approaching lenders. Blended LTV of 60% and strong aggregate rental income (£10,750 pm / £129,000 pa) gave leverage to negotiate. A specialist portfolio lender on the expat panel offered a single mortgage across all eight properties, removing the need to deal with four separate lenders. ICR stress test on the portfolio aggregate passed at both 125% and 145%.
The Outcome
Single portfolio mortgage of £1,310,000 at 60% blended LTV. Rate 5.45% fixed 3 years. Management considerably simplified to one mortgage, one lender, one direct debit. Borrower retained all eight properties and three previously problematic lenders were redeemed in full. Key highlights: eight properties consolidated onto one portfolio mortgage; blended LTV negotiated at portfolio level; three non-renewing lenders cleared simultaneously; SGD contract income accepted by a specialist portfolio lender.
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