While many of our higher net worth clients have ambitions to build large property portfolios, there is also significant interest in second homes. These additional properties tend to be a significant distance from their main abode and are often overseas.
In this case, our client was looking for a high loan-to-value mortgage (LTV mortgage) for his second home purchase. Lenders are exceptionally fastidious about who they will lend to for this kind of financing, and not every would-be borrower will be able to access the right lenders if you are operating alone. Very few lenders publicise that they offer high LTV mortgages, often preferring introductions from parties like Enness that help provide an additional layer of confidence in your profile.
Enness have experience negotiating high LTV mortgages on million-pound-plus properties. With connections to the lenders that operate in this niche area of the market, Enness’ brokers regularly source and negotiate 85% LTV mortgages, 90% LTV mortgages and, in some exceptional cases, even 100% LTV mortgages. Often, Enness’ team will be able to approach the only lender in the whole market that has the appetite and ability to offer this kind of finance.
Enness operates exclusively in your best interests to negotiate the very best deals and terms. However, the team’s understanding of your lender’s requirements will mean that your broker is ideally placed to find common ground and present the case that will get the lender to give the green light on a high LTV mortgage.
Whether you are looking for a country retreat for the family, overseas holiday home or a pied-à-terre in the city we can certainly assist you in structuring the right mortgage finance for you.