At Enness Private Office, we pride ourselves on using our exceptional lender network to succeed where others have failed. I was able to achieve a fantastic result for an investment bank consultant looking to secure a foreign currency mortgage in US dollars for a UK residential property.
My client had recently set up his own consultancy, and was therefore self-employed. He was hoping to secure a mortgage on a £4.8million residential property in South West London. My client had tried many other brokerage firms, and all had struggled and eventually failed to secure him the mortgage he needed; this was understandable, as securing a foreign currency mortgage is no mean feat.
There were also some additional issues which had prevented my client from securing the foreign currency mortgage he sought. My client had launched his own consultancy, so he also had a sporadic income record.
I knew I would need to approach a private bank to cater for this client. I found a private bank who was willing to assess his overall assets, rather than his recent income, and were able to meet his requirements for a dollar loan. I was resultantly able to secure him a LIBOR tracker mortgage at 2.25% for a 5-year term, which was a great result.
It’s important to note that although I was able to find my client a dollar loan in this instance, this does severely restrict your borrowing options. If foreign exchange (FX) is a concern of yours, we have specialists within the Enness group who are able to help with this.
Enness Private Office has extensive experience with assisting overseas clients, which often requires FX, but you could also benefit from Enness’ services if you’re a UK resident who is paid in a different currency. We have a partnership with market leading FX specialist, Argentex; they share our key objective of supporting and expanding our clients’ portfolios, and can therefore be of use in such a situation.