Enness was approached by an international property developer seeking to release equity from a £30 million penthouse in Knightsbridge. The client wanted to refinance the existing borrowing and release additional capital, targeting total finance of approximately £22.5 million, equivalent to 75% loan-to-value.
The transaction presented several considerations. The existing lender was unwilling to provide the additional capital required, while the client’s remuneration was derived from multiple sources as a result of their wider business interests. The property was also held through a Jersey-based company rather than in the client’s personal name.
As an experienced property investor with assets across several international markets, the client required a financing structure that could accommodate both the ownership arrangement and broader financial position. The scale of the borrowing also meant that a specialist lender was likely to be more appropriate than a conventional mortgage provider.
OUR SOLUTION
Enness reviewed the ownership structure, available income and wider assets before approaching a private bank experienced in high-value international property finance. The application was presented on the basis of the client’s overall financial position and the strength of the underlying security.
The bank was comfortable refinancing the Knightsbridge property and agreed to provide the requested £22.5 million facility, with Assets Under Management (AUM) forming part of the overall lending structure.
The borrowing was arranged on a five-year interest-only basis, allowing the client to release equity while retaining the property within their wider portfolio. The structure provided a clear financing solution that accommodated the corporate ownership of the asset and the client’s international financial interests.
This case demonstrates how specialist mortgage structuring can assist with high-value property where the borrower has complex income sources, international assets and corporate ownership arrangements. A detailed assessment of the wider financial position can be particularly important when conventional lending criteria do not fully reflect the circumstances.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal, tax or investment advice. Finance is subject to status, underwriting, affordability, property suitability and lender criteria. Terms, rates, LTVs and availability may vary depending on individual circumstances.
Risk Warning:
Your property may be repossessed if you do not keep up repayments on your mortgage or other borrowing secured against it. Property values can fall as well as rise.
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Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
