Key Details:
- Client: UK expat living in Cyprus
- Property: Circa £1.75 million semi-rural UK house with shared access and historic agricultural covenants
- Solution: £1 million, 14-year interest-only facility
A UK expat client based in Cyprus owned a semi-rural property in the UK valued at circa £1.75 million, situated on former agricultural land with shared access and informal grazing arrangements.
The client required circa £1 million on a 14-year interest-only basis (~57% LTV), with the funds to be used to purchase a property in Cyprus outright.
Enness sourced a lender experienced in semi-rural properties and structured the transaction with a focus on legal clarity and certainty of execution. Measures included pre-clearing access rights with solicitors, reviewing agricultural covenants, obtaining occupier consent, and ensuring all building insurance and lender requirements were fully aligned.
The facility was successfully arranged with early repayment charges capped at 1% in year one, reducing to 0.5% in year two. Title issues were fully resolved ahead of drawdown, removing execution risk and enabling the client to proceed with a cash purchase in Cyprus, while retaining long-term flexibility through a clearly defined exit strategy.
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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.
