Do you have a residential property portfolio as a result of working in the city and living in the country? Many Enness clients have two residential properties as a result of their working location, as was the case with a recent client of mine. My client owned a pied-a-terre in London and another beautiful home in the countryside, with a total value of £4.5million
He was looking to refinance these properties because his current loan was coming to the end of its term. However, he faced several challenges. My client had previously owned a company which he had sold for a substantial sum; he had since invested in commercial property and some liquid assets. He was therefore asset rich, but had no real declarable income to speak of.
He therefore approached Enness for help, and I was confident I would be able to assist with refinancing his residential property portfolio. I approached a lender with whom we have a very close working relationship, meaning we can negotiate effectively for clients with strong profiles.
I highlighted my client’s high net worth (HNW) status to the lender, showing his strong financial profile and history of success with his own business and the assets he had invested in.
On this basis, the lender was able to offer a loan of £2.7million, with one loan across the residential property portfolio. This would be more convenient for my client, so this was an excellent result. The overall product was a 5-year fixed rate at 2.6% with a 1% arrangement fee. Ultimately, this was made possible by the bank’s flexible attitude and our great relationship with them. If you need a HNW mortgage, we would be pleased to advise you further, no matter how complicated your profile.