- Client: Canadian National & UK Resident
- Property: Central London family home
- Property value: £8,500,000
- Loan amount: £5,525,000
- LTV: 55%
- Rate: 2.5% + BBR
- Term: 5 years
Enness was approached by a Canadian national and UK resident looking to purchase a family home in central London valued at £8.5 million. The client wanted to borrow £5.525 million, representing a 55% LTV.
Although the client was resident in the UK, their Canadian nationality and international financial background meant that a standard mortgage application required a more considered approach. At this level of borrowing, the choice of lender is particularly important, as not every provider has the appetite or underwriting approach required for high-value lending to international clients.
The client also wanted a dry lending structure, allowing the mortgage to be secured against the property without the requirement to place additional assets under management with the lender. This narrowed the pool of potential lenders further.
Enness considered the client’s circumstances and approached lenders experienced in working with international borrowers and high-value property. The focus was on finding a lender that could take a broader view of the client’s nationality, residency and wider financial position while also accommodating the required loan size.
We successfully secured a £5.525 million dry lending facility at 55% LTV, with a five-year term and a competitive rate of 2.5% above Bank of England base rate.
The case demonstrates the importance of matching an international borrower with a lender whose criteria align with the full circumstances of the transaction. For high-value UK property purchases, the right structure can make a significant difference to both the terms available and the overall lending process.
Enness regularly works with international borrowers and high-net-worth clients seeking high-value mortgages in the UK. If you are purchasing a London property and have an international background or complex financial circumstances, our team can explore suitable UK mortgage options.
Risk Warning:
Mortgages secured against property carry risk. If you do not keep up with repayments, you could lose the property used as security. Variable-rate borrowing means payments may increase if the applicable interest rate rises. Property values can fall as well as rise.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, affordability, underwriting and lender criteria. Terms and availability will vary depending on individual circumstances.
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.
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.
