Arranging mortgages over international borders is something that Enness specialises in. A great many of our clients look to purchase a property overseas and require flexible lending options.
I recently referred a client to the London office who was an Indian national seeking a mortgage on a £700,000 property in an exclusive area of West London. The property was intended to be a buy-to-let and he was hoping for a 60% loan to value (LTV).
Typically, this would be a straightforward process but some countries place restrictions on organising mortgages overseas. There are many complications Indian citizens face when borrowing money outside of India and attempting to move significant funds outside of the country threw up numerous challenges for this case.
Following some thoughtful research, we found a lender that would be comfortable lending to an Indian national in personal names. The bank we approached was based in Bahrain but had significant international presence which made the process smoother.
We managed to arrange a rate of 2.75% plus 3-month LIBOR and the client’s desired 60% LTV. This was a great success considering the complications and the client so pleased with this result that he also invested in Enness’ life insurance. I was delighted to have referred a client for two fantastic services.