Fast Equity Release For Ultra-High-Net-Worth Middle Eastern Client
27th September 2023
Key Details:
- Client: UAE National & resident
- Property Value: Circa £17M
- Loan Amount: +£10M
- LTV: 60%
In this case, Enness was approached by a UAE National and resident who needed to refinance their existing UK buy-to-let property. This equity release was to invest in the redevelopment of a hotel in Central Europe. The client had multiple income sources and assets in several different jurisdictions – the client wanted to work with a lender who could understand and complete the transaction in a matter of weeks.
The critical challenge of this case was that we were working against a tight deadline. Additionally, the client was heavily invested in first-term investment products with high early exit charges and in many high-value international property transactions, leaving them with low liquidity and needing help to invest in the hotel personally. The client needed to work with someone who understood their ultra-high-net-worth complex profile and could efficiently complete a transaction at +10M GBP.
Moving quickly, Enness successfully negotiated a 60% loan-to-value first charge bridging loan. Enness worked exceptionally quickly, securing this loan in a minimal 3-week timeframe. This worked seamlessly with the borrower's timeline and enabled them to move forward with their upcoming project in Central Europe. This loan repayment was agreed upon at 12 months, much to the client's delight.
Enness has access to over 500 Lenders and can present the best possible terms to our clients. We have a presence in Dubai and can, therefore, better understand all the nuances of Middle Eastern clients. We specialize in dealing with ultra-high-net-worth individuals and can quickly understand the client profile and requirements.
If you or your clients are based in the Middle East and are experiencing difficulties arranging UK finance, please don't hesitate to contact us.
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