£8 Million Refinance for an UHNW Indian National

• Client: Indian National, Resident in the United Arab Emirates
• Property Type: Country house outside London
• Property Value: £16,000,000
• Loan Amount: £8,000,000
• LTV: 50%
• Interest Rate: 2.75% + BBR, with a 1% arrangement fee

Enness was approached by an ultra-high-net-worth client who was looking to refinance a high-value country house outside London. The client, an Indian national resident in the UAE, had originally used bridging finance to acquire the property and required an £8 million mortgage to refinance the existing facility.

The transaction presented several challenges due to the combination of the client’s nationality, country of residence, the location and value of the property, and the size of the loan required. With the client’s nationality, residence and security all connected to different jurisdictions, a lender with experience handling international borrowers and complex cross-border transactions was required.

The nature of the property also restricted the available lending options. While high-value properties in London are commonly considered by specialist and private banking lenders, not every lender is comfortable providing significant finance against substantial country houses outside the capital. The £16 million property therefore needed to be presented to a lender with an appropriate appetite for both the asset and the proposed loan size.

The client’s Indian nationality and UAE residency added a further layer of complexity. For transactions involving multiple jurisdictions, lenders may require additional information and background before becoming comfortable with the overall risk profile. Enness worked through these requirements carefully, ensuring that the client’s financial circumstances and the wider context of the transaction were clearly presented to potential lenders.

Given the size of the refinancing and the need to provide a suitable exit from the existing bridging facility, Enness approached a bank with established links to both the UK and Middle East. This provided a suitable route to finance for a transaction that would have been difficult for many mainstream lenders to accommodate.

Following negotiations, Enness successfully arranged an £8 million mortgage, representing 50% LTV against the property, at a rate of 2.75% + BBR with a 1% arrangement fee. The facility provided the client with a longer-term refinancing solution and enabled them to exit the existing bridging finance.

This case demonstrates how international high-net-worth borrowers can face additional challenges when seeking significant UK property finance, particularly where nationality, residency and the location of the security span multiple jurisdictions. A specialist approach can help identify lenders with the appetite and experience required to consider the complete circumstances of the transaction, subject to lender criteria.

Risk Warning:
Mortgage and refinancing facilities carry risks. Interest rates can change where a variable rate is used, which may increase the cost of borrowing. Failure to meet repayment obligations could result in enforcement action and the loss of the property provided as security.

Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, underwriting, valuation and lender criteria. Terms and availability will vary depending on individual circumstances and the proposed transaction.