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Large Mortgage for London Pied-à-terre Purchase

5th October 2022
MORTGAGE BROKER

Ellie Papachrisostomou​

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Large Mortgage for London Pied-à-terre Purchase - Enness Global
Ellie Papachrisostomou​
MORTGAGE BROKER

Ellie Papachrisostomou​

Key Figures:

  • Client: American National & Resident
  • Property Type: Residential Property
  • Property Value: £3,600,000
  • Loan amount: £1,980,000
  • LTV: 55% 
  • Interest rate: BOBR + 2.5%
  • Term: 10 years

Enness is a leading broker for high-value (£1 million-plus) UK property finance. Our team specialises in brokering large mortgages for US-based buyers looking to purchase real estate anywhere in the UK. 

In this case, we were approached by a US-based property entrepreneur with a portfolio of over 800 properties located across the US, Western Europe and North Africa. The client was now looking to acquire a luxurious apartment in London to be used as his secondary residence. Located in the heart of the City, the property in question was an elegant apartment with panoramic views of some of London's most iconic landmarks and exclusive access to five-star amenities. The property was valued at £3.6 million and the client was looking to borrow at least 50% of the property amount. 

As a US citizen or US-based borrower, you need specialist and very tailored support from a mortgage broker. For many lenders, non-resident buyers are one thing, but US-based buyers are quite another. However, there are many options if you work with a broker with the right connections and know which lenders have an appetite to work with US buyers. 

Thanks to our broker’s extensive market knowledge, we were able to take the application directly to a lender that specialises in foreign currency and foreign national applications. Using the client's global assets and wealth, our broker secured a very competitive UK mortgage with a private bank. As a result, the private bank offered a 55% LTV mortgage with an attractive rate of 2.5% over a 10-year term.

Get in touch with Enness' team of UK mortgage brokers today to learn more about how the team can support you with securing a UK mortgage.