Enness was approached by a client residing in the Channel Islands who was planning a move to the UK. The individual required a finance solution that would allow them to raise capital from their current residence to fund a UK property purchase.
The case involved several complexities. As a non-UK resident, the client was classified as an expat, which limited access to traditional mortgage routes. The UK property they intended to acquire was a substantial, non-standard estate with residential and income-generating components. These elements made the case more challenging from an underwriting perspective.
Adding to the complexity, the client's income came from a business undergoing a transition period, impacted by broader changes within the industry in which they operated. This meant the company was not currently profitable. Furthermore, some historical credit considerations also required careful positioning.
Despite these challenges, Enness delivered a strong result. We sourced a lender willing to view the client's overall profile holistically. Due to the clarity and detail Enness provided during the underwriting process, they were comfortable with the international nature of the business's income and temporary financial performance. A mortgage was arranged across several UK properties, at a 70% loan-to-value (LTV) and factoring in future income from the income-generating properties for affordability.
The property was acquired for circa £1.5 + million, and the mortgage facility arranged was just over £1 million at a competitive rate. Enness also arranged a bridging loan secured against the client's current residence to support the transaction. The property, held over multiple titles, is set to be let on a long-term basis following the client's relocation. The bridging facility was secured at a competitive rate, including arrangement fees.
This case highlights Enness's expertise in structuring complex, multi-jurisdictional lending solutions. With a thorough understanding of international borrower profiles, non-standard property purchases, and transitional income positions, we delivered a result that sets us apart in the market. Contact Enness to explore how we can support your high-value or international property finance requirements.
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.
