€52 Million French Property Refinance
13th January 2022
Key Facts:
- Client: UK National, Monaco Resident
- Property value: €52,000,000
- Loan amount: €27,300,000
- AUM: €5,550,000
- Rate: 1.35%,10 years term, amortised loan
France's Riviera has long been a magnet for foreign property investors and those looking for a second home or holiday bolthole in France.
We were recently approached by a Monaco based UHNW client who required French property refinance. Situated in one of France's most sought-after areas, the property in question was a magnificent villa worth €52million. The client was looking to refinance at around 50% loan to value (LTV) in order to raise enough equity to cover some outstanding debt.
For luxury and ultra-prime property, one of the best routes to getting a mortgage in France is to borrow from a private bank. However, that doesn't necessarily mean you need to be looking for a mortgage from a French bank or lender. In many cases, international private banks will offer more advantageous loans than France’s domestic lenders. As such, we approached a UK based private bank, which suited our client, a British National, perfectly.
In this case, the Monaco team successfuly negotiated a 52% LTV mortgage at a competitive rate of 1.35%, which exceeded the client's requirements.
Enness has significant experience assisting high-net-worth non-residents in securing competitive and advantageous mortgages in France. Contact Enness to have a no-obligation chat about your plans for purchasing property in France and explore how Enness can help you structure and streamline French property finance.
