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Since Enness was established in the heart of London’s Mayfair, over a decade ago, we have worked with clients from all over the world to arrange large loans. The UK remains a popular location for both expats and foreign nationals buying property; we have recently received a 31% surge in enquiries from expat and foreign national mortgage clients in the Gulf Corporation Council (GCC).
To cater for this demand, we’ve launched a new office in Dubai—and to celebrate, this week’s product of the week is designed for expats and foreign nationals purchasing residential property in the UK. This product is suitable for large loans, as the maximum loan size is £10million.
This product allows clients based in over 30 different countries worldwide to purchase a home in the UK, either for themselves or a relative to live in. It Is therefore ideal for those who would like to purchase a home for their children to live in whilst studying in the UK, but do not want to purchase the property as a buy to let.
In order to access this product, you will need to open an account with the lender.
The amount of assets under management (AUM) you place will also affect your interest rate, giving you the flexibility to prioritise depending on your circumstances. If you are looking to place less than £100,000 of AUM—or place none at all—you could access a 2-year fixed rate of 3.29%. Alternatively, by placing £100,000 or above, you could access a 2-year fixed rate of 2.89%.
We have an excellent relationship with this lender, and have worked with them on numerous occasions. If you have any further questions about the process of securing an expat or foreign national mortgage, check out my article: Can a non UK resident get a mortgage? for more advice.