Mortgage for a US national first-time buyer on a £7million London property

14th September 2018
GROUP CEO

Islay Robinson

contact
Mortgage for a US national first-time buyer on a £7million London property
Islay Robinson
GROUP CEO

Islay Robinson

THE SCENARIO

At Enness we pride ourselves on helping first-time buyers. We are experts at overcoming difficulties that arise with high net worth cases, especially when the client in question is not from the UK. My client was a US national but had acquired British residency by marriage. He worked as a hedge fund manager and therefore had high incomes which came in GBP and USD.

My client wished to purchase a stunning £7million property in London. This was his first UK property purchase and he was looking for loan to value (LTV) of 85%, far higher than the 60-70% average.

To add to this, my client received a bonus income in USD. This creates complications when calculating net worth as US citizens require extra reporting due to the US Inland Revenue Service policy with tax returns filed there.

OUR SOLUTION

I understood the necessity of finding a lender with a strong international presence that would appreciate the complexities of this case. Fortunately, at Enness we have a vast network of lender contacts and I was able to secure my client’s desired 85% LTV at a rate of 2.54% plus base rate on a 5-year interest only fixed term. This was the ideal solution for my client.

The Global High  Net Worth  Mortgage Guide

How to Buy and Finance Luxury Property in France Guide

France is one of the most popular property markets for foreign nationals: we are all aware of the chic appeal of Paris, the enduring allure of the Riviera in the summer or the freshness of the mountains in winter.

Covering everything from search and negotiation to making an offer and the legal processes, the guide will help you fulfil your dream of property ownership in France.

Download Pdf