Facility Amount: £2,650,000
Enness was approached by an international client, a US national who had been living in the UK for several years and was now looking to purchase a prime residential property in London. The client earned a base salary in the UK, but a significant portion of annual remuneration was paid as a bonus in a foreign currency. In addition, the deposit for the purchase was originating from overseas.
Most mainstream lenders were only willing to assess affordability based on UK-earned income and were unwilling to consider bonus income paid offshore. The client required a lender that could take a holistic view of global income streams and accept the deposit being transferred from outside the UK, while still offering a competitive and flexible mortgage structure.
Enness identified a lender able to consider the client’s full income profile, including the foreign-currency bonus, for affordability purposes. The lender was comfortable with the deposit being sourced internationally and offered a facility that aligned with the client’s preference for an interest-only structure. This approach supported lower monthly payments and provided future flexibility around repayment.
The client secured the required borrowing with a lender experienced in cross-border income and asset structures. The interest-only facility gives the client optionality at the end of the term, either through refinancing, using future liquidity events, or selling the property and downsizing. The result demonstrates Enness’ capability to arrange strategic financing for globally mobile clients with complex income profiles.
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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.
