- Client: British national, Swiss resident
- Property: Flat in Central London
- Property value: £3.5M
- Loan amount: £2.625M
- LTV: 75%
Enness was approached by a British national living in Switzerland who was looking to purchase a luxury apartment in Central London. The £3.5M property required a mortgage of £2.625M, representing a 75% loan-to-value.
Although the client was a British national, their Swiss residency meant the application needed to be considered as an international mortgage. Income earned outside the UK can introduce additional considerations for lenders, particularly where the borrower is paid in a foreign currency and does not have an established UK financial footprint.
The value of the property and the level of borrowing added another layer to the application. Rather than approaching lenders without first establishing which providers were comfortable with the client’s circumstances, Enness identified lenders with experience in financing UK property for British expatriates and other non-UK residents.
We secured a £2.625M mortgage at 75% LTV, providing the client with the level of borrowing required to complete the Central London purchase while retaining a proportion of their capital.
The case highlights that being a British national does not necessarily mean securing a UK mortgage as an expat is straightforward. Residency, income currency, property value and the overall structure of a borrower’s finances can all influence lender appetite.
Enness regularly works with British expatriates and international borrowers looking to purchase UK property. Our experience across international lending allows us to identify lenders suited to individual circumstances and structure UK mortgage finance around the borrower’s requirements.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, underwriting, valuation and lender criteria. Borrowing against property carries risk, and failure to meet repayment obligations may put secured assets, including property, at risk.
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.
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Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
