Mortgage for US-based managing director with bonus income

29th October 2020
ASSOCIATE DIRECTOR

Victoria Barton

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Victorian Terrace property in Richmond Green 
Victoria Barton
ASSOCIATE DIRECTOR

Victoria Barton

Key facts 

  • Victorian Terrace property in Richmond Green 
  • Property value - £4m
  • Mortgage amount - £2.2m
  • LTV – 55%  
  • Interest rate – 5 year fixed at 1.46% 
  • US resident 

Arranging a large mortgage for a London property purchase. 

Harnessing value from international insight, Enness provides bespoke and tailored solutions to make our clients’ property financing ambitions a reality. With a relationship-oriented approach, we always go above and beyond to find the best solution for our clients. As such, it is common for our clients to return to Enness time and time again.  

In this case, a past client of ours wanted to purchase a Victorian terrace property in Richmond Green, south west London. Referred to as ‘’one of the most beautiful urban greens surviving anywhere in England’’, Richmond Green overlooks charming townhouses and historical landmarks. A short distance away from Richmond Park and Royal Botanic Gardens, this neighbourhood has proven to be popular amongst professionals and families seeking a more relaxing environment. 

The client works as a Managing Director for a leading US telecommunications firm, splitting his time between the US and the UK. As a senior professional, my client received an excellent basic salary alongside a significant annual bonus.

One of the challenges facing such individuals is convincing lenders to take the bonus into account when arranging a mortgage. Generally, lenders will include no more than 50% of bonus income into an affordability calculation, averaged over the last two to three years. For that reason, arranging a large mortgage using bonus income can be challenging.  

At Enness, we have an envied pedigree when it comes to providing mortgage solutions for even the most complex of financing scenarios. We specialise in the areas of the market where high profile and mainstream lenders don’t operate.

In this case, we succeeded in securing the most competitive rate possible for our client, supporting his London property purchase

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