£3 Million Mortgage for a Multi-National CEO


I was recently approached with the requirement for a mortgage for a multi-national CEO of a multi-national engineering company. He was Canadian but his business was based in the USA where he had been living for several years.

He had been offered a new role in Switzerland but wanted to buy a family property in London so that his family could reside in the UK and his son attend Public School. He had indefinite leave to remain in the UK but also had a Green Card, having lived and worked in the USA. Given his new role he wanted to live and work in Switzerland, returning to the UK on weekends.  The property in Islington was valued at £3 million and his initial thought was to sell assets to raise a deposit of £1.2 million.

Due to the complexities of his income structure my client had accumulated $5 million of vested stock over 25 years of working at his previous company. Consequently, I suggested that he sell his some of his stock to raise a deposit as selling properties around the world was not an option for him.

This was not as simple as it sounds – due to his American Green Card not many international banks would lend to him. This was compounded by the complexities of American taxation laws, even though he was originally of Canadian origin. The fact that I was working with three different currencies – Dollars, Sterling and Swiss Francs made presenting this mortgage to the banks interesting. I required a lender who was flexible in understanding my client’s global wealth and that would accept my client’s projected future income in Switzerland.


In order to raise the deposit I suggested that he kept his stock to give him a return which could be used to build a relationship with a bank and provide a return to offset against the overall mortgage. I suggested a financial structure which consisted of moving my client’s vested stock offshore to Jersey. This step was necessary for taxation purposes.

I recommended an international bank that could provide tax and wealth advice and negotiated a Lombard loan against 80% of single stock held offshore at a rate of 1.1% + Libor (0.53%). This raised a deposit of £1.2m. We then were able to provide a regulated residential loan onshore and lend £1.8 million at a rate of 2% + Libor on a 5 year interest only term. This surpassed my client’s expectations as it secured him a 60% LTV on a residential UK mortgage.

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