£3million mortgage in the UK for British expat in Dubai



I was recently pleased to meet with and discuss the requirements of a British national who was resident in Dubai. With an extensive net worth, this client ran a global technology company and had enjoyed a very successful global career. However, his busy schedule meant he was having difficulty with securing UK property finance whilst based in the UAE.

Like many British clients in the UAE, this client wanted to keep a base in the UK for when he visited family at home. However, he was not looking to remortgage his current UK property—rather, he wanted to upsize by purchasing another residential property.

He had a property in mind which was valued at £4million. He wanted to borrow £3million, creating a 75% loan to value (LTV) which is quite high at this level of borrowing. Additionally, this is considered a very large loan for a property which would not be the client’s primary residence. One of the challenges of buying residential property for clients living in the UAE is that banks are concerned the property will be used as a buy to let to generate income, which violates typical residential mortgage terms.


Fortunately, I was confident Enness could help, as we are experts in securing large loan for expats and foreign nationals across the Middle East. I passed this clients’ details over to the Enness team in London, and the  team were able to illustrate that, whilst primarily resident in the UAE, this property would only be used on a residential basis by this client and his family. They identified a British lender with global presence who was prepared to offer this client a 5-year tracker rate of 1.49% + Base Rate.

I was also able to refer this case to the Enness Insurance team, in order to arrange the adequate cover for this property in terms of contents and buildings insurance. In addition to the high value of the buildings content required, this client also had valuable contents which required a high level of cover.  This is always important, but is especially critical for properties where the owner will not be resident for a good chunk of the year.