- Client: International high-net-worth individual
- Property Value: Circa £7 million
- Location: Central London
- Requirement: High-LTV residential mortgage
Enness was approached by an international high-net-worth individual looking to purchase a property in Central London valued at approximately £7 million. The client held a significant proportion of their wealth and assets offshore and required a high loan-to-value mortgage to complete the acquisition.
The client's international financial position presented several challenges. Their income and wealth were primarily denominated in a foreign currency, while many UK lenders have specific requirements around overseas income and currency exposure. The application therefore required a lender that could assess the client's wider global financial position rather than relying solely on conventional UK income criteria.
The client's substantial offshore asset base was an important part of the overall assessment. Enness needed to identify a lender that was comfortable considering the client's wider assets alongside their income when determining affordability and the appropriate level of borrowing.
Enness approached the private banking market and identified a lender able to take a holistic view of the client's financial circumstances. The resulting private bank mortgage took into account the client's broader asset base and international wealth structure, allowing the lender to assess the application on its overall merits.
The mortgage was structured using a combination of repayment types to meet the client's requirements. This provided a balance between managing monthly payments and reducing the outstanding balance over time, while allowing the client to retain flexibility across their wider financial position.
The agreed facility was secured at a competitive rate for the initial term, providing greater certainty over the cost of borrowing while the client completed the purchase and managed their international assets.
This case demonstrates the importance of selecting a lender that understands international wealth structures when financing high-value UK property. For borrowers whose income or assets are held outside the UK, a conventional affordability assessment may not always reflect their complete financial position.
Where income is earned or wealth is held in another currency, a foreign currency mortgage may also be relevant, depending on the client's circumstances and the lender's criteria. For higher-value transactions, private bank mortgage solutions can provide access to lenders accustomed to assessing complex international financial profiles.
If you are an international buyer looking to finance a high-value UK property, speak to a mortgage specialist to discuss your requirements.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal, tax or investment advice. Finance is subject to status, affordability, valuation, underwriting and lender criteria. Foreign currency borrowing can expose borrowers to exchange-rate movements, which may affect the cost of repayments. Property values can fall as well as rise.
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.
