These clients came to Enness following an online search with their unique criteria. The couple had recently moved back to the UK from Singapore. They both had high-flying positions and earned around £400,000 pa. combined.
A beautiful family home outside the commuter town of Reading, valued at £2.75million.
They were seeking the maximum loan to value (LTV) achievable with interest only.
The clients specifically requested that Enness approach a retail bank for their loan. They sought a very high LTV with interest only which is very unusual for high street lenders to offer.
A lot of lenders that Enness approached would only offer around 50% LTV for these clients and their circumstances. This was not enough to serve these clients’ needs.
However, Enness has a very strong bond with a particular high street lender and the London team were able to negotiate an 80% LTV to be repaid on a part and part basis. This allowed for the clients to have lower monthly repayments.
Following a reasonable discussion, the clients were offered a very attractive rate of 1.69% for 2 years fixed over a 15-year term on the Reading property.
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.