Equity Release for a High Net Worth Individual on Unique Property

20th November 2023

Guy Jones

Art Studio Apartment
Guy Jones

Guy Jones

  • Client: UK Resident & National
  • Property Value: Circa £8.5M
  • Loan Amount: £400k
  • LTV: 5%

In this case, Enness was introduced to a client who owned a property outright in NW London.
The client had multiple income sources in various currencies and needed to raise funds to fund her living costs before downsizing.

The critical challenge of this case was that the client’s income wasn’t sufficient to support the level of borrowing required.
Additionally, the security property was a former artist’s studio, with much of the value being held in its uniqueness. The client had already listed the property on the market and had received several offers but was content to wait for the market to bounce back so they could get closer to the asking price.
The client needed to work with someone happy to use the property as a security for the loan and would also allow them to roll up the interest onto the loan instead of making monthly payments. Crucially, the client wanted to avoid any early repayment charges as the property could sell at any point during the term of the loan.
Using Enness’ access to exclusive products and lenders, we arranged a 5-year bridging loan designed explicitly for HNWIs in this situation, where they had a high-value asset but not the income to support a conventional mortgage. As this was a regulated bridge, most lenders would not exceed a 12-month term, whereas we were able to arrange a period of 5 years, giving the client plenty of time to find a buyer.

Enness has access to over 500 Lenders and can present the best possible terms to our clients. We specialise in dealing with high-net-worth individuals and can quickly understand the client profile and requirements. We can easily understand the nuances of HNWIs, who often have much of their net worth held in illiquid assets. We can explore all options and find a solution that works for the client and their circumstance.

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