A recent case involves arranging property finance for an ultra-high net worth French national and resident who was looking to purchase an apartment worth £18 million in 20 Grosvenor Square, London.
Located on the heart of historic Mayfair, 20 Grosvenor Square is the flagship Four Seasons Residence in Europe. The development benefits from world-leading hotel services including concierge, security, catering, as well as in-residence dining and housekeeping. The amenities include spa, screening room, business suite, childcare facilities, wine room, garden library and courtyard garden.
Leading up to the Brexit transition period, upmarket London homes have seen a considerable demand from French nationals. In fact, during the first nine months of 2020, the French comprised the largest foreign buyer segment of prime central London property, with their share of transactions surging from 2% in 2019 to 11%.
Here at Enness, we help foreign nationals and non-residents access the best possible mortgages secured against UK property no matter where they are in the world. In fact, last year, we helped individuals from 78 different countries with their UK mortgages.
Coming from a property background, the client wanted to work with a sophisticated private bank. As such, we successfully brought in a private bank lender that was willing to provide a complete 100% loan to value (LTV), keeping £6.3 million of the client’s assets under their management. Moreover, we managed to secure an interest-only facility for the client on a 5-year tracker product with a rate of just 1.09% over BoE base rate.
If you think a private bank mortgage would be beneficial, speak to one of our team and let us navigate and negotiate on your behalf.