What is your background, role and main area of responsibility at Enness Global? 

We began our Enness careers as mortgage brokers in our London Office, having both joined from different firms with several years of experience. Harry moved to Dubai seven years ago whilst Paige moved over five years ago, both originally to increase the Enness offering in the region and mortgages, to cater for our large Middle Eastern client base. Since moving to Dubai we have both been promoted, Paige to Partner and Harry to Associate Director, and no co-head the Dubai office where we deal with all Enness’ International Clients who have UK mortgage requirements. Between us we have twenty years’ experience in dealing with complex international mortgage; as a result we can quickly and efficiently find the best solution for our clients. 

 

Can you describe the typical needs your high-net-worth clients have that result in them considering Enness’ broking Services?

We often find with the type of clients we deal with value speed, discretion, and most importantly a bespoke solution where we align them with the lender best suited to their requirements. Our clients often have complicated income structures from overseas businesses, may be asset rich/cash poor, or may have complex offshore ownership structures for their properties in the UK. The global team at Enness, whether in the mortgage department or elsewhere, has an extremely deep knowledge base covering any & all debt requirements. 

 

And what are the primary challenges you have to overcome to reach the best outcome for your clients? 

Our main challenges are that there is a much smaller pool of lenders available than your standard UK mortgage enquiry, whether it be because the clients a high risk, want a ‘dry’ loan (no Assets under Management), or because of complex income/structures. There is also normally more information & documentation required for our clients; to be accepted for a mortgage, so we often need to manage their expectations regarding this from the very start of the process. 

  

What trends are you currently observing locally in Dubai, and the wider UAE, when it comes to high-value mortgage finance? 

We are still seeing a high amount of interest in the UK, and especially London, from our GCC clients; although the local market out here is performing well many GCC nationals still travel to the UK/Europe when it gets too hot in the summer here so like to have a place they can call their own! 

Trendwise, the appetite for higher loan to value mortgages is still very prevalent when buying in the UK (we have access to products up to 80-90% for the right client which is very appealing), whilst base rate tracker products have become increasingly popular in the last six to twelve months as opposed to long term fixed products. This is simply so our clients can instantly benefit when the UK base rate (hopefully) starts coming down! ]

 

Finally, in your experience, when it comes to sourcing a high-value mortgage, what’s the biggest learning you’d offer future clients? 

The UK finance industry is highly regulated and as such if a bank is lending a large loan, they need to understand who you are, your source of wealth, and a full understanding of your ability to service a mortgage. We work best with clients when they are proactive with document requests and when they understand why the lender needs a lot of information. Work with your broker, we are here to help you and with the experience we have in this market we should be able to find the right solution. Finally, having a good team involved (broker, solicitor, tax adviser etc) can make the difference between a successful completion if everyone is singing from the same page!