Enness recently worked with a client who was in the process of buying a luxury property in a highly sought-after location in the UK for approximately £30,000,000.
This client wanted to obtain an eight-figure loan amount to purchase the property.
Arranging finances for the client was particularly challenging for multiple reasons. Firstly, the client resided in the Middle East, and second, the client had multiple income streams and various pools of offshore wealth.
Arranging the loan required careful broking, given the size of the deal and the unusual elements in the case. Not all lenders can offer finance for this type of transaction, so ensuring we got the client the most competitive deal available from a lender was vital.
We approached a bank with links to the UK and Middle East, which facilitated accessing finance, given we knew some lenders would find it challenging to cater to the client’s financing requirement in combination with their unusual background. We successfully negotiated a competitive loan amount that met the client' requirements at 1.1%+BBR with a 0.5% arrangement fee.
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