- Client: Channel Islands Resident
- Property Value: Circa £1.5M+
- Mortgage Amount: Just over £1M
- LTV: 70%
Enness was approached by a client residing in the Channel Islands who was planning to relocate to the UK. The client required a finance solution that would allow them to raise capital against their existing residence to support the purchase of a new UK property.
The transaction presented several complexities. As a non-UK resident at the time of application, the client faced a more limited range of traditional mortgage options. The property they intended to purchase was also a substantial, non-standard estate comprising both residential and income-generating elements, requiring a lender capable of considering the property's structure and potential income.
The client's income profile added another layer of complexity. Their income was derived from a business undergoing a period of transition, with wider changes within the industry affecting its financial performance. As a result, the business was not currently profitable. There were also historical credit considerations that needed to be carefully presented to potential lenders.
Enness identified a lender willing to assess the client's circumstances, with the application supported by detailed information on their wider financial position, international income and the anticipated changes to their circumstances following relocation to the UK.
A mortgage facility of just over £1M was secured at 70% LTV against the UK properties, with future income from the income-generating elements of the estate taken into consideration as part of the affordability assessment. The property was acquired for circa £1.5M+ and the facility was arranged at an agreed rate.
Alongside the main mortgage, Enness also arranged a bridging loan secured against the client's existing Channel Islands residence. This provided additional liquidity to support the purchase while the client prepared for their relocation to the UK. The bridging facility included arrangement fees as part of the agreed structure.
The UK property, which was held across multiple titles, is intended to be let on a long-term basis following the client's relocation. This required consideration of both the property's structure and its future income potential when assessing the overall financing.
This case demonstrates Enness's ability to structure complex, multi-jurisdictional finance for clients with non-standard property, transitional income and cross-border requirements. The combination of mortgage and bridging finance provided a structure designed around the client's relocation and property acquisition requirements.
Important: Bridging finance is short-term borrowing and requires a credible and achievable repayment or exit strategy. Where repayment depends on the sale or refinancing of a property, delays, changes in property values or market conditions may affect the anticipated exit and the overall cost of borrowing.
If you are planning a UK property purchase from overseas or require a bespoke financing structure, speak to a mortgage specialist to explore your options.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
