Enness Global has been featured in The Intermediary after arranging a £4.8 million mortgage for a UK-based family purchasing a London property valued at approximately £6 million.
The bespoke mortgage was structured at 80% loan-to-value (LTV), allowing the family to retain more of their available cash rather than committing a larger deposit to the purchase. This meant they could acquire the property without taking additional funds from the family business.
The family’s circumstances presented a number of complexities, as their income alone was not sufficient to support the level of borrowing required through a conventional mortgage structure. A family member with business income therefore joined the application as a joint borrower, while the clients retained sole legal ownership of the property.
The structure required a lender comfortable with the distinction between the borrowers and the legal owners, alongside a detailed assessment of the family’s wider financial position.
Rather than relying solely on personal drawings from the family member’s UK limited company, the assessment considered the wider financial resources available to the family, including historic access to profits, existing commitments and the overall affordability of the proposed mortgage and property costs.
Enness Global identified a private bank willing to assess the application on its individual merits. The lender was comfortable with the proposed joint borrower structure and approved the facility while allowing the clients to retain sole ownership of the property.
The mortgage was also arranged without early repayment charges, providing the family with additional flexibility should their financial circumstances or plans change in the future.
The transaction demonstrates how bespoke private banking solutions can help high-net-worth borrowers secure substantial property finance where conventional lending criteria may not adequately reflect their wider financial position.
Read the full article here: Enness Global Arranges £4.8M Mortgage for London Family Home
