80% LTV USD Mortgage for Purchase and Major Refurbishment

• Client: UK-based high-net-worth borrower with foreign currency income
• Challenge: High-LTV borrowing to fund a property acquisition alongside a large-scale residential redevelopment project
• Loan Amount: Circa 80% loan-to-value facility with a circa £1.5M refurbishment drawdown

A UK-based high-net-worth borrower with foreign currency income approached Enness seeking a bespoke financing solution to support two significant property objectives at the same time. The client required funding for a high-value property acquisition while also undertaking a substantial redevelopment of an existing London residential asset.

The redevelopment project involved extensive structural works, significant internal modernisation, and a substantial refurbishment budget over approximately two years. At the same time, the client wanted to complete the acquisition without compromising liquidity or disrupting broader wealth planning.

Although the client had strong earnings and substantial liquidity, structuring the right facility was complex. The client earned in US dollars, creating a potential currency mismatch between income and debt servicing under a traditional sterling mortgage. In addition, many lenders impose restrictive oversight, staged monitoring, and ongoing reporting requirements when lending at higher loan-to-value ratios alongside large-scale redevelopment works.

Enness structured a bespoke facility at circa 80% loan-to-value secured across both properties. The structure released sufficient capital to fund the property acquisition while also providing a circa £1.5M drawdown facility secured against the client’s previously unencumbered London residence to support refurbishment costs.

Crucially, the mortgage was denominated in US dollars, aligning the debt directly with the client’s income and reducing foreign exchange friction on repayments. The structure included a requirement for overall leverage to reduce to circa 70% loan-to-value across both properties within 24 months. Given the scale of the planned redevelopment and expected uplift in value, this was considered achievable.

Importantly, the lender adopted a highly flexible approach to the redevelopment element. Unlike many conventional structures, the facility involved minimal ongoing oversight, limited reporting requirements, and significant operational flexibility throughout the build programme.

This case demonstrates how specialist private banking solutions can support complex multi-property transactions involving foreign currency income, higher leverage, and large-scale redevelopment. By aligning the debt structure with the client’s income profile and long-term strategy, Enness delivered a flexible solution that preserved liquidity and reduced execution friction.

Disclaimer

This case study is anonymised and provided for illustrative purposes only. It does not constitute financial, legal, tax, or investment advice. Enness acts as a broker and not as a lender. All lending is subject to status, underwriting, valuation, and lender approval. Loan terms, pricing, and maximum loan-to-value ratios vary depending on individual circumstances, asset profile, and market conditions. Foreign currency borrowing carries exchange rate risk, which may increase repayment costs or affect affordability. Property refurbishment projects may also involve delays, cost overruns, and valuation fluctuations. Independent professional advice should be sought before entering into any financial arrangement.