- Client: US National and Resident
- Loan Amount: Circa £1.2M
- Loan-to-Value (LTV): 74%
- Interest Rate: Competitive and Fixed
In this case, a US national approached us intending to purchase a property in the UK. The client wanted to purchase a freehold building creating long leaseholds for each unit. For tax efficiency purposes their preference was to purchase the property through a UK limited company, as well as additional requirements relating to usage and occupancy, making this a far more complex transaction than many lenders may be willing to consider.
A further challenge was that the client, as a US resident and national, had no credit history or existing banking relationships in the UK. This lack of a UK credit footprint made finding lenders willing to provide the necessary mortgage challenging. Moreover, the client's request to purchase the property through a limited company coupled with the additional complex requirements, raised additional concerns. We needed to find a lender that would be comfortable with these conditions, especially in relation to the usage and occupancy requirements highlighted by the client.
After assessing the client's financial standing, including their considerable earnings and wealth in the US, we negotiated favourable terms with the lender, providing a circa £1.2M mortgage on a 74% loan to value. The lender was comfortable with the client's lack of UK credit history as the assessment was focused on their US income and assets as proof of ability. Additionally, the lender was happy to consider the usage and occupancy needs, as detailed by the client as also being a priority. The loan was structured with a fixed and competitive interest rate, providing the client with stability.
At Enness, we have extensive experience working with clients all over the world, including those from the US, navigating the complexities of cross-border property purchases. Our access to over 500 lenders allows us to find the most suitable options for unique cases like this. If you are looking for a similar solution, don't hesitate to reach out.
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Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
