£1.4million mortgage for foreign national with new job


In addition to traditional mortgages, Enness Private Office can also confidently arrange high-value short-term solutions such as bridging loans for our high net worth clients. For example, I recently organised such a solution for a foreign national client who needed to raise £1.4million of borrowing.

My client was an Italian foreign national who was resident in the UK. As mentioned, he hoped to raise a significant amount from his residential property to repay various debts.

However, after having been self-employed for the last decade, he had recently closed down his company. As such, he had recently started working and was earning a basic salary with an investment company, so we only had his employment contract as proof of income. This contract showed his basic salary of £200,000; this was not going to be enough to support the level of borrowing required.

However, his contract does allude to the additional income he could expect to receive, including a significant bonus scheme and pay-outs from specific deals. We needed a short-term funding solution which would tide my client over until this additional income came into play.


We would need to approach a private lender who could take a view on stretching the affordability. I therefore contacted a prestigious private bank who approaches their finance solutions on a case-by-case basis. I was able to arrange a regulated bridging loan at an interest rate of 0.5%. This is an excellent rate for a bridging loan, which typically will not drop below 0.48%. My client also wanted to roll up the interest, which we were able to do.

The exit strategy for this would be the pay-out of the bonus discussed above. We would then look to remortgage the bridging loan once his cash flow is more regular.

If you need a large loan on a short-term basis, please do get in touch and I would be pleased to advise you further.


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