Large UK Mortgage for UHNW Jersey Resident

24th August 2021

Jack Goguelin

Large UK mortgage for Jersey resident
Jack Goguelin

Jack Goguelin

Key Facts:

  • Luxury property in Cheshire
  • Property Value: £6,500,000
  • Loan Amount: £4,000,000
  • Product: 5 Years, Interest Only
  • Margin: 1.60% per annum

In this case, we were approached by a Jersey resident client who was looking to leverage an unencumbered property in Cheshire. The client was looking to extract some equity from the property for deployment in a separate business enterprise.

The client had three requests:

  1. An interest only mortgage
  2. An attractive interest rate (sub 2%)
  3. A product with no early repayment charges

Being an UHNWI, our client is the archetypal private bank client and we were able to negotiate compelling terms with a number of lenders. The majority of lenders were pricing the deal at between 1.85% - 2.00%. After some negotiation, we were able to get an out of policy exception from one of our lending partners who were happy to offer a margin of 1.60%. The private bank was also happy to waive any penalty for early repayment. 

It’s quite unusual for banks to secure credit on UK property where the individual is a non-UK resident, so we were very pleased to overcome that hurdle and secure some very attractive terms for our client.