100% loan to value, £8.5 million property, interest-only mortgage

19th November 2020

Jack Goguelin

100% loan to value, £8.5 million property, interest-only mortgage
Jack Goguelin

Jack Goguelin

Key facts:

  • Client - Kyrgyzstan resident, UBO
  • Legal borrower – BVI limited company
  • Equity release
  • Property value - £8,500,000
  • LTV - 100%
  • Assets under management - £5,500,000
  • Interest rate - 2.25% + BoE base rate
  • Product - 5 years, interest-only

At Enness, we have assisted foreign national clients for over a decade. Our clients come from all walks of life, are from all over the world, and often look to finance properties overseas. 

In this case, we were approached by an introducer who was looking for assistance in arranging finance for their client, a national of Kyrgyzstan. The client was looking to release funds from an unencumbered property they own in London. The funds were to be used for further investment in the UK real estate market. For those with equity in their properties, releasing funds at very low cost and investing those funds for a higher return elsewhere is an attractive way of diversifying their portfolio.

We knew that the client’s nationality and complex source of wealth story would make this a challenging case. Not many lenders in the current climate would be happy to provide finance for Kyrgyzstani clients due to the unstable political situation and volatile economy.

Although foreign national mortgages do come with some added obstacles, there are plenty of lenders who recognise the value of overseas investment in the UK and whose criteria allow for it.

Through our connections, we were able to secure a mortgage at 100% LTV on an interest-only basis, with a competitive rate of 2.25% plus BoE base rate. The client walked away with £3,000,000 in cash, with the lender retaining the excess funds as AUM.

Enness has a multilingual team, so we are able to liaise with clients all over the world. If you would like further information on how we can help you as an international businessperson, please do get in touch.