66.6% commercial Mortgage for Iranian national living in Monaco

Key figures:

  • €750,000 property
  • €500,000 commercial refinance
  • 6% loan to value (LTV)
  • 1% fixed for 15 years


The client:

Recently a client was referred to me following a recommendation from a banker contact of mine. He was an Iranian national who held a German passport and was residing in Monaco.


The property:

The property in question was a commercial unit in Monaco that the client was using for storage. The property was valued at €750,000.


What were they looking for?

He was looking for a commercial refinance at around €500,000 to fund future business ventures.


Why was it difficult?

This client had a complicated background. As he is of Iranian origin, banks will consider him to be a ‘high-risk nationality’. Equally, as he was a German passport holder but lived in Monaco, many banks would be reluctant to lend.


What was the process?

Enness has close connections with a particular lender based in Monaco. Using our vast network of lending contacts – and our knowledge of their processes – means that we can cleverly seek out the lender who will be able to work on these types of cases.

The bank in question was able to overlook the hindrances that our Iranian client would typically face based on his nationality and look at his credentials in a pragmatic way.


The solution:

The London team managed to negotiate that the lender offer a refinance at 66.6%, the client’s desired €500,000. We secured this at a rate of 2.1% fixed over a 15-year term.


Arrange to speak to an Enness Broker


Want to Learn more?