International Mortgage services for Trusts

Enness is proud to have built up strong working relationships with trusts and trustees around the world. This has allowed us to expand our reach even beyond our growing network of international offices which now cover London, Monaco, Dubai, Jersey and Ibiza. Our expert advisors have both local and international experience on property regulations and the most appropriate funding vehicles. This ensures we know which private banks and advisers to approach for particular scenarios, saving valuable time.

Our reputation continues to attract a strong stream of new business and some of our recent successes in the area of international mortgage services include:-

• $10m refinancing of a block of apartments in New York for an international HNW individual.

• £15m refinance of a £30m prime property in London to release sterling liquidity for ongoing investment.

• £3m residential re-mortgage for an ex-international professional football player where a change in his income structure prompted his bank of 10 years to withdraw mortgage services.

• £7.5m 2 year bridge facility secured against a trophy asset held in trust in order to avoid repossession and allow time for a more orderly asset sale.

• £10m bridging loan secured against more than 50 residential properties held in various Jersey and BVI trusts. The trusts were originally set up with nominee settlors as part of a group restructure before moving to a development finance facility, used to redevelop the properties.

• £500k residential mortgage secured against an Isle of Man property for a wealthy family with little provable income.

• £1.9m mortgage with a high loan to value secured against a high yielding residential/commercial property portfolio held via a BVI structure.

• €5.3m bridge loan secured against a Monaco property held via a BVI company in order to release liquidity while the UBO sold his company in the UK.

Why trusts/trustees engage Enness to fulfil their client requirements

Fiduciary duty/duty of care

As a consequence of our independent status, Enness works with an unlimited network of global lenders. This allows us to retain a deep-seated knowledge of the markets and at all times we are aware of active lenders and those who may have temporarily left the market. The involvement of Enness at an early stage ensures that private banks are only presented with opportunities which dovetail with their lending activities. Our experience means we can focus on competitive lenders, which saves valuable time. It also ensures trustees and advisors are able to present viable options to their clients on the best possible terms.

Efficient Fees and billing

We have a very competitive fee/billing structure which is based on successful solutions and transaction milestones. As a measure of our confidence, we offer detailed bespoke mortgage solutions moulded around a client’s specific circumstances. If a client wishes to proceed, Enness is able to manage what can be a fairly lengthy and sometimes complicated mortgage application process. This ensures that trustees can focus on their core activities in the knowledge the mortgage application process is being micromanaged. Our strategy of milestone payments on success translates into excellent value for money for advisers and clients.

Fragmented lending market

The mortgage market is constantly evolving – so far this year we have lost 5 mainstream lenders in the UK while 7 new lenders have emerged. There has also been a degree of consolidation in the bridging finance market although activity in the private and corporate lending sector is growing. Whether creating a bespoke structure for trustees or approaching the most appropriate private bank lender, our skills and expertise save time and money while also guaranteeing the most competitive terms.

International reach

In 2018 Enness arranged mortgages for 77 different nationalities with an array of different residency status covering the globe. Our independent structure ensures we have no restrictions regarding our relations with lenders. As a consequence, Enness is able to offer a truly international mortgage service bringing together private banks and trustees. Our global reach is un-matched by our competitors. Whether dealing with an international trust, individual or company structure, we are able to create bespoke arrangements to benefit all parties. The international mortgage solutions market is extremely competitive with contacts and experience invaluable. As a consequence, we are able to offer a service which has provisions and solutions for every scenario.

Product range

Over the years we have utilised a large number of different property lending vehicles covering all aspects of property related lending. These include residential mortgages, investment portfolios, international mortgages, commercial finance and development finance. We are also experts in identifying and arranging emergency/short term finance solutions which can be even more time critical. We can work transactions from pre-planning land purchases all the way through to development and refinancing.

Specialism

In recent times a number of professional advisers have approached us with complex scenarios which have often been refused by other mortgage advisers. We have vast experience in handling complex structures, clients with difficult financial backgrounds and often extreme circumstances. Through experience and emersion in the market place we have unmatched knowledge and contacts coupled with determination to find a solution. Time is often of the essence with regards to complex scenarios. Therefore our knowledge about which private banks to approach to provide a relevant solution is priceless. Putting together a lending file and ensuring that all paperwork is in place prior to a funding application ensures a positive response from lenders. We also handle an array of other issues such as compliance obligations, valuations, credit reports, account opening and the legal process from start to finish.

No Cross Selling

Enness is a transparent/open company and we respect the services offered by our partners and professional advisers. If we are able to add complimentary services to the package, such as an additional insurance proposition, this would obviously require express consent. At no point would we consider encroachment on the services offered by our partners although we will assist where possible if a partner requests an additional complementary service. Trust is a two-way street which we fully respect and as a consequence have built up an array of long-term relationships.

Privacy and discursion

We can provide indicative in principle lending solutions and structures on a no name basis. This allows trustees/advisors to investigate complex solutions without disclosing the name, assets or intentions of the borrower. This level of privacy is vital especially where high net worth individuals, often in the public eye, are involved.

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