- Client: British National & Resident
- Property: Semi-detached house in Chiswick
- Property Value: £2,520,000
- Loan Amount: £1,890,000
- LTV: 75%
- Term: 28 years
Enness was approached by a British national and resident who was looking to purchase a semi-detached house in Chiswick. The client owned a hospitality business but was no longer involved in its day-to-day management, having handed responsibility to their business partner. With the property valued at £2.52 million, the client wanted to borrow 75% of the purchase price.
The main challenge was putting together the required deposit. The client had £393,000 readily available but needed a further £237,000 to reach the £630,000 deposit required. To bridge the gap, Enness helped structure the funding around the client’s wider assets and business interests.
We arranged for £220,000 of equity to be released from a property within the client’s buy-to-let portfolio. The remaining £17,000 shortfall was covered using funds from the client’s business, with net profits before tax also taken into account when assessing affordability.
The transaction also came with a tight three-week deadline for the mortgage to be offered. With lender service levels extended at the time, speed was particularly important. Enness was nevertheless able to secure approval within two weeks, keeping the purchase on track.
The resulting mortgage provided £1.89 million of finance at 75% LTV over a 28-year term. By considering the client’s property portfolio, business position and available capital together, Enness was able to structure the application around the client’s actual financial circumstances rather than relying solely on conventional income assessment.
This case demonstrates how a more complex income and asset profile does not necessarily prevent a high-value residential mortgage. The right lender can take a broader view where there are multiple sources of wealth and assets available to support the application.
Enness works with entrepreneurs, business owners and other borrowers with complex mortgage requirements. Our specialist brokers can assess your wider financial position, identify suitable lenders and structure a financing solution around your circumstances. To discuss your requirements, speak to a mortgage specialist.
Risk Warning:
A mortgage is secured against property. If you do not keep up with repayments, your property may be at risk of repossession. Releasing equity from an existing property also increases the borrowing secured against that property and should be considered carefully.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, underwriting, affordability 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.
