Enness was introduced to a Dubai-based borrower seeking to refinance an existing facility secured against a prime residential property in Knightsbridge. The borrower was the chairman of a major Middle Eastern construction business and came to Enness through a private banking contact.
The residence was valued at approximately £8.7 million, with around £6.6 million of existing borrowing secured against it. Ownership was held through an Isle of Man special purpose vehicle, while the application was managed through the borrower’s family office.
The corporate ownership arrangement and overseas circumstances meant that a lender experienced in cross-border transactions was required. The involvement of a family office also called for a discreet approach and an understanding of the borrower’s wider financial position.
OUR SOLUTION
Enness approached a private bank experienced in working with internationally based borrowers, offshore ownership arrangements and high-value residential assets. The bank was able to assess the wider circumstances and work directly with the family office throughout the application.
The refinance was arranged on an interest-only basis at approximately 75% loan-to-value. Assets Under Management (AUM) also formed part of the overall banking relationship, supporting the proposed lending structure.
The arrangement allowed the existing borrowing to be refinanced while retaining flexibility across the borrower’s wider wealth arrangements. It also provided a financing solution suited to the ownership of the Knightsbridge residence through an offshore vehicle.
This case demonstrates how specialist mortgage structuring can assist high-net-worth borrowers where international residency, corporate ownership and significant assets create additional considerations. Access to appropriate private banking lenders can be particularly valuable when conventional lending criteria do not fully reflect the circumstances.
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, property suitability and lender criteria. Terms, rates, LTVs and availability may vary depending on individual circumstances.
Risk Warning:
Your property may be repossessed if you do not keep up repayments on your mortgage or other borrowing secured against it. Property values can fall as well as rise.
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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.
