- Client: Iranian national
- Property: Residential property in London
- Property value: £12M
- Mortgage amount: £7.2M
- LTV: 60%
- Term: Up to 25 years
- Purpose: Residential property purchase
International borrowers can face additional challenges when seeking mortgage finance for UK property, particularly where their nationality or residency falls outside the standard criteria of mainstream lenders. Enness was approached by an Iranian national looking to purchase a residential property in London valued at approximately £12M.
The client required a mortgage of £7.2M, representing a 60% loan to value (LTV). While the level of borrowing and the underlying property provided a strong basis for the application, the client’s nationality meant that lender selection and the due diligence requirements were particularly important.
Iranian borrowers can encounter a more limited pool of lenders willing to consider UK property finance. Consequently, a conventional mortgage application was unlikely to provide the breadth of options required for a transaction of this size.
Enness assessed the client’s circumstances and approached lenders capable of considering more complex international mortgage applications. The objective was to identify a suitable lender that could accommodate the proposed borrowing while taking into account the client’s nationality, the value of the property and the required LTV.
Following discussions with suitable lenders, Enness was able to put together a mortgage solution for the £7.2M requirement against the £12M London property, representing a 60% LTV, with a proposed term of up to 25 years.
The case demonstrates the importance of specialist lender access when arranging high-value UK property finance for international borrowers. Where a borrower falls outside conventional lender criteria, private banks and specialist lenders may offer alternative routes, subject to their own due diligence, regulatory requirements and lending criteria.
Enness works with international borrowers seeking UK mortgage finance, including complex cases involving foreign nationals and overseas structures. Each application is assessed individually, with lender availability dependent on factors including nationality, residency, source of wealth, source of funds, income, assets, property value and LTV.
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, valuation, due diligence, regulatory requirements and lender criteria. Terms, rates, LTVs, fees and availability may vary depending on individual circumstances. The terms described relate to a historical case and are not indicative of current or future pricing.
Risk Warning:
Your property may be repossessed if you do not keep up repayments on your mortgage. International borrowers may also be exposed to foreign exchange risk where income or assets are held in a different currency to the mortgage. Property values can fall as well as rise, and borrowers should ensure they understand their repayment obligations and have a suitable strategy for meeting the outstanding capital.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
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.
