- Client: UK expatriate resident in Cyprus
- Challenge: Releasing equity from a semi-rural UK property with title complexities to fund a property purchase in Cyprus
- Loan Amount: Circa £1 million interest-only mortgage at approximately 57% loan-to-value
A UK expatriate resident in Cyprus approached Enness Global seeking to release equity from a semi-rural property in the UK valued at approximately £1.75 million. The client intended to use the proceeds to purchase a property in Cyprus outright while retaining ownership of the UK asset. A long-term interest-only structure was preferred to preserve flexibility and minimise ongoing capital commitments.
The transaction presented several complexities. The property was situated on former agricultural land and was subject to shared access arrangements and historic agricultural covenants, requiring careful legal review before financing could proceed. In addition, the client's overseas residency and intended cross-border use of funds further reduced the number of lenders willing to consider the application.
Drawing on specialist lender relationships, Enness Global identified a lender experienced in financing semi-rural properties with more complex title arrangements. A circa £1 million interest-only mortgage, representing approximately 57% loan-to-value, was structured over a 14-year term. The proposed solution included early repayment charges capped at 1% in the first year and reducing to 0.5% in the second year, providing additional flexibility. Throughout the transaction, legal, valuation, insurance and title matters were coordinated to support a smooth execution process.
This case demonstrates how specialist mortgage solutions can support expatriate borrowers with complex property assets that fall outside conventional lending criteria. By carefully coordinating the legal and lending process, Enness Global structured a solution aligned with the client's wider international property strategy.
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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.
