Featuring on a Specialist Lending Solutions video debate in association with Market Financial Solutions (MFS), Zahira Fayyaz, senior business development manager at the lender, said: “The main thing we want to understand is the source of wealth. Where the money is essentially coming from. 

“We need to make sure everything is compliant in terms of UK regulation.” 

“It’s about understanding the client’s income position. It’s about understanding the exit as well,” she added. 

Fayyaz said that the property being purchased was also something a lender would consider in terms of its location, market, serviceability and desirability. 

She added that MFS is quite unique in its approach, as it places importance on the asset when underwriting cases. 

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James Riley, mortgage consultant at Oriel Finance, said that from a broker’s perspective, it’s imperative to look at a client’s circumstances, as a more flexible product may need to be considered if they eventually plan to move to the UK. For example, while new builds are still in development they may require a bridging loan. 

Richard Rinder, associate sales manager for Oriel Finance, agreed, saying it’s important to gain an understanding of the client, the market and timeframes during the fact find. 

Rinder said by looking at these key points, it’s possible to guide the client through the process from start to finish and get the best possible option for their needs. 

Watch the video [8:11] hosted by Shekina Tuahene, commercial editor at Mortgage Solutions, featuring  Zahira Fayyaz, senior business development manager at MFS, Richard Rinder, associate, sales manager for Oriel Finance and James Riley, mortgage consultant at Oriel Finance.  

  

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