- Introducer: Boutique accounting firm
- Client: UK National & Resident
- Property: Luxury holiday residence in Ibiza
- Property Value: €5,200,000
- Loan Amount: €4,000,000
- AUM: €1,600,000
- Term: 7 years, interest-only
Enness was introduced by a London-based boutique accounting firm whose client was looking to purchase a luxury holiday residence in Ibiza. The client wanted to maximise the amount they could borrow, while also establishing a new long-term banking relationship, as their existing bank did not offer the level of mortgage finance required.
The client was looking to borrow €4 million against the €5.2 million property. Given the size of the facility, the accountant understood that the client would likely need to place assets under management with a private bank. However, choosing the right banking relationship was just as important as securing competitive mortgage terms. The client wanted to work with a bank that could support their wider wealth management requirements over the long term.
Rather than simply focusing on the headline mortgage rate, Enness arranged meetings with several banks that had the appetite to consider the transaction. This gave the client the opportunity to understand how each institution approached wealth management, lending and the management of their assets before deciding which relationship was the best fit.
The client ultimately selected the bank whose approach best aligned with their requirements. The lender provided a €4 million mortgage on an interest-only basis over seven years at a competitive variable rate of 1.6%, with €1.6 million placed under management.
The outcome provided the client with the borrowing required to complete the Ibiza purchase while establishing a new private banking relationship that could support their wider financial objectives. For the accountant, the structure also provided confidence that their client had found a banking partner suited to their longer-term needs.
This case highlights the importance of looking beyond the mortgage itself when arranging high-value international property finance. For high-net-worth borrowers, the right lender may need to provide not only competitive financing but also a broader wealth management relationship built around their individual circumstances.
Enness works with high-net-worth clients and their professional advisers to source bespoke Spanish mortgages for UK residents, including finance for high-value holiday homes and second properties. Where appropriate, we can also help clients explore private banking relationships and private bank mortgage solutions. To discuss your scenario, speak to a mortgage specialist.
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.
