Middle Eastern Homebuyers Have The Strongest Borrowing Platform To Fund High-End Home Purchases

High-net-worth mortgage broker Enness Global has revealed which international buyers have the strongest mortgage purchasing power based on the income of the top 1% of earners in their respective countries.

Enness analysed 27 nations, comparing the income threshold of the top 1% of earners with the level of mortgage borrowing potentially available when purchasing a prime property.

The research found that high-end homebuyers from Qatar were in the strongest position. With a top 1% income threshold of £1.202m, Qatari buyers could potentially borrow up to £7.215m based on a lending multiple of six times income.

Buyers from the United Arab Emirates ranked second, with a top 1% income threshold of £696,249 translating to potential mortgage borrowing of approximately £4.177m.

Saudi Arabia completed the top three, with high-net-worth buyers demonstrating mortgage purchasing power of around £2.879m.

Outside the Middle East, buyers from the US (£1.987m), Germany (£1.175m), Turkey (£1.099m), the UK (£1.066m), Canada (£1.029m) and the Netherlands (£977k) also ranked among the top 10 for potential mortgage borrowing.

Hugh Wade-Jones, Managing Director of Enness Global Mortgages, commented:

“Even those with the strongest financial foundations will still be restricted to borrowing a certain amount based on their mortgage-to-income ratio, although they will, of course, be afforded a higher ratio than the average buyer.

“As a result, the borrowing potential of the high-net-worth homebuyer can vary widely. When looking at how this differs by nationality, it is clear that buyers from the Middle East are among those in the strongest positions when securing a mortgage.

“Of course, income is not the only factor that drives mortgage capacity. The size of the borrower’s deposit, their wider balance sheet, liquid and illiquid assets, background wealth and the intended use of the property being purchased can all play a part.

“There remains a strong availability of mortgage finance in the UK for international borrowers, and buyers from these nations are among those well placed to take advantage of the current lending landscape.”