Securing a BTL Remortgage for a UK Property Owner in the UAE Despite Unique Circumstances
15th April 2024
- UAE Resident (British National)
- Prop Value: Approximately £1,000,000.00
- Mortgage: Circa £400,000.00
- BTL Remortgage
A UK property owner approached Enness seeking to refinance their buy-to-let property in the UK. The client was a British citizen, but they were living abroad in the Middle East. The previous tenants caused trouble at the end of their tenancy resulting in an expensive legal process. The client had taken a loan from a Middle Eastern bank to pay for the legal fees and had also fallen behind on some personal utilities payments in the UK during the eviction process.
The client needed a lender to assist with refinancing the property, which was undergoing renovations and would be rented out again soon. However, due to the client's situation, finding a suitable lender was challenging. Enness was able to use its existing relationship with a specialist lender to secure financing for the client, taking into account their unique circumstances.
Enness has access to over 500 lenders and has extensive experience working with clients in the Middle East. If you or your clients are based in the Middle East and need assistance with UK finance, please don't hesitate to contact us.
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