In this case, our Dubai team was approached by a Saudi National and Resident who was looking to purchase an investment property in London. The property in question was worth £4.205 million and the client wanted to borrow at least 70% of that amount.
The client was 75 years old, which added a level of complexity to the case. Due to the risk of the borrower being unable to service the debt, many high street banks have been cracking down even on middle-aged borrows applying for a term that runs past state retirement age.
Here at Enness, we understand how frustrating it can be to be denied a mortgage purely based on your age, rather than your affordability and personal circumstances. We are strong believers in client-centric financial services and are confident in our ability to find the best solution for our clients and present a case in the most appropriate and effective way, whatever their situation may be.
As such, we successfully negotiated a 75% LTV (loan to value) mortgage at a competitive rate of 2.14%. We have experience dealing with older borrowers and can advise on income streams and ways in which to fully utilise existing assets. Rest assured, we will leave no stone unturned in our pursuit of a bespoke finance package for you.