- Client: UK National, UK Resident
- Property Value: Above £1.8M
- Loan Amount: Circa £1.2M
In this case, Enness was approached by a multimillionaire entrepreneur who is a resident in the UK. The client wanted to remortgage their main residence and release some additional funds to pay off a second charge.
The client was an older borrower who had multiple businesses and sources of income. We needed a lender who could fully understand the client’s business operations and the income generated. Additionally, we were looking for a mortgage term that would extend to the age of the elderly borrower, using their earned income.
The challenge for this case was that we were working against a tight deadline of approximately 5 weeks due to the expiry of the second charge and client would have received a large penalty for not closing in time. The property type and holding structure also created additional complexities that would need to be taken into considereation.
The client needed to work with a broker and lender who understood the complex income, property and tight deadline.
Moving quickly, Enness successfully negotiated a residential mortgage, with a lender who was comfortable with the clients circumstances. We obtained a remortgage within the required timeframe, mortgage term up to the desired age with the mortgage secured as required. We secured a leading competitive rate over a 2 year period in which was above 2% cheaper than the client was originally paying.
Enness has access to over 500 lenders and can present the best possible terms to our clients. We will thoroughly go through the clients circumstances and understanding the whole picture to ensure a suitable solution is provided to ensure they can have financial peace of mind allowing them to plan for the future. If you would like to explore your options for similar financing, don't hesitate to contact us.
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.
