75% LTV secured for a non-UK resident with foreign business and rental income, generating £23,400 in annual rental income from day one.
GCC-based investor (Omani national, Oman resident)
The Client
An Omani national based in Muscat, looking to enter the UK property market for the first time. The client’s income came from a family trading business and existing property rentals in Oman. The client visits the UK regularly with family and was seeking a hands-off, income-generating investment that required minimal day-to-day involvement from abroad.
The Opportunity
Salford Quays in Manchester was identified as a strong fit for the client’s objectives. The area has established demand from young professionals and students, low vacancy risk, and is part of one of the UK’s most active urban regeneration corridors. A 2-bedroom apartment was sourced at £350,000, offering a projected net yield of approximately 5.3% per annum and capital growth potential of 6–8% over three years based on Manchester’s ongoing development pipeline.
The Challenge
The case required a lender able to accommodate a specific combination of borrower profile and income structure that sits outside mainstream UK Buy-to-Let criteria.
- Non-UK resident status with no UK credit history or prior property ownership
- Income derived entirely from overseas sources: a family trading business and rental properties in Oman
- First-time UK investor with no track record in the UK market
- Requirement for Sharia-compliant finance narrowed the eligible lender pool significantly
- 75% LTV target required a lender comfortable with higher leverage for a non-resident Buy-to-Let borrower
- Client required a fully managed solution, with no capacity to self-manage a property from Oman
Rainstone Money’s Approach
Rainstone identified a specialist Sharia-compliant lender able to fully accept both the client’s overseas business income and Omani rental income for affordability purposes, without applying the restrictive haircuts common with foreign income assessments.
A 5-year fixed profit rate was secured at 5.25% per annum, providing payment certainty across the initial term and protecting the client’s cash flow position against rate fluctuation.
Rainstone also facilitated the appointment of a local letting agent in Manchester to manage the property fully on behalf of the client, covering tenant sourcing, rent collection, and maintenance, making this a genuinely passive investment from the client’s perspective.
Projected capital growth of 6–8% over 3 years is based on Manchester’s ongoing regeneration and sustained demand growth in the Salford Quays corridor. This projection is indicative and not guaranteed.
The Outcome
- A £262,500 Sharia-compliant Buy-to-Let mortgage was secured on a £350,000 Manchester apartment at 75% LTV
- A 5-year fixed profit rate of 5.25% per annum provides rate certainty and protects rental cash flow
- Both overseas business income and Omani rental income were fully accepted in the affordability assessment
- The property generates £1,950 per month in rental income, equating to £23,400 annually
- Net yield of approximately 5.3% per annum achieved after costs
- A fully managed letting arrangement was put in place, requiring no active involvement from the client
- The client has established a foothold in the UK market, with a clear platform for future portfolio expansion
“For GCC investors seeking passive UK income, the structure matters as much as the property. Getting the right lender to accept foreign income in full, paired with a managed letting solution, is what turns a cross-border investment into something that genuinely works hands-off.”
Rahul Modasia
Specialist in Foreign National
Investment & Mortgages
International Finance Experts
For expert advice on foreign national investments and mortgages, please contact Rahul Modasia on
07395 043003 or via email at rahul@rainstonemoney.co.uk.
