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Large UK Mortgage for UHNW Jersey Resident

24th August 2021
Large UK mortgage for Jersey resident

Key Facts:

  • Luxury property in Cheshire
  • Property Value: £6,500,000
  • Loan Amount: £4,000,000
  • Product: 5 Years, Interest Only
  • Margin: 1.60% per annum

In this case, we were approached by a Jersey resident client who was looking to leverage an unencumbered property in Cheshire. The client was looking to extract some equity from the property for deployment in a separate business enterprise.

The client had three requests:

  1. An interest only mortgage
  2. An attractive interest rate (sub 2%)
  3. A product with no early repayment charges

Being an UHNWI, our client is the archetypal private bank client and we were able to negotiate compelling terms with a number of lenders. The majority of lenders were pricing the deal at between 1.85% - 2.00%. After some negotiation, we were able to get an out of policy exception from one of our lending partners who were happy to offer a margin of 1.60%. The private bank was also happy to waive any penalty for early repayment. 

It’s quite unusual for banks to secure credit on UK property where the individual is a non-UK resident, so we were very pleased to overcome that hurdle and secure some very attractive terms for our client.

Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.

Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.