- Client: UK Nationals/Residents
- Refinance of a country estate, paying off existing borrowing and releasing further funds to finalise the project
- Property Value: Above £18 million
- Loan Amount: Circa £6 million
The clients owned a large country estate in Southwest England, which had been renovated to an exceptionally high standard. They approached Enness to restructure their existing borrowing and release additional funds to complete the final stages of this extensive renovation. One of the clients had recently started a new business, and although the clients are asset-rich, they are currently income-light. The complexity of the case required a lender who could assess the situation based on the client’s net worth and asset base rather than traditional income-driven models.
The estate is intended for sale in the future. Therefore, a large, short-term loan was required to settle the existing lender and fund the remaining works. The timing was critical, a team was already scheduled, and delays could have risked losing these in-demand professionals.
Given the urgency and complexity, Enness sourced a residential mortgage through a lender experienced in dealing with ultra-high-net-worth clients. The case was assessed on an asset-based lending model, not income, and a short-term mortgage product was secured. The product is linked to the Bank of England Base Rate, giving the client immediate benefit from any future rate reductions while also meeting their bespoke requirements.
Despite minor delays in the underwriting process, regular updates and proactive communication ensured all stakeholders, including tradespeople and advisors, remained aligned. The clients were efficient and responsive throughout, which further helped progress the application smoothly.
With access to over 500 lenders and deep experience in arranging complex finance for HNW clients, Enness delivered an optimal outcome. Contact us today to see if we can achieve similar for you.
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