London property has long been considered a safe haven for overseas ultra-high net worth (UHNW) clients, and property values in prime locations mean large mortgages are often necessary. As a result, we have become experts in securing large property loans, particularly mortgages over £ 1million.
CHALLENGES OF SECURING MORTGAGES OVER £1 MILLION POUNDS
Various complexities arise when considering the affordability of UHNW clients, as ‘on paper’ they may not have the liquid wealth to support a mortgage.
Furthermore, UHNW clients are often asset rich, with little liquidity, and complex income structures, making securing a large mortgage challenging in terms of proving affordability to a lender.
For example, some clients take their income in foreign currency, some take it from rental income, and others will have it tied up in assets and investments. All can be a barrier to high street banks, so private banking relationships are essential.
This is where it becomes a necessity to approach a lender who has experience working with such individuals, and who is willing to take a bespoke approach to their case.
Non-UK domiciled individuals can also struggle when it comes to securing a large loan in the UK, but our brokers are experts in working with people who do not reside in the UK, and know exactly how to structure this type of deal.
CAN I GET A PRIVATE BANK MORTGAGE WITHOUT ASSETS UNDER MANAGEMENT?
Enness Private Office has offices in London’s West Hampstead, Monaco and Dubai’s International Finance Centre (DIFC) and, as such, has the global presence and knowledge to look after clients from all over the world.
Our team of dedicated brokers work with discretion and efficiency, ensuring your case is structured appropriately in order to get the best solution for your requirements. We have over a decade’s worth of experience working with clients who don’t fit the criteria set by banks, and have developed relationships in the lending world to combat this.
Whether you’re looking for a mortgage over £1 million, or to refinance an existing high value asset, our brokers have the contacts to ensure you get the best outcome for your situation.