London & UK Mortgage Specialists

You want the best rate and the best terms. Even if your plans are ambitious, complex or sensitive. Here’s how Enness makes that happen for you:

1. You tell Enness about your plans and your circumstances

2. Enness then research and analyse the market for you, finding the best lenders (and in some cases the only lender) for you
3. Enness negotiate the terms on your behalf. You will receive your broker’s recommendation on the best offer, and they’ll also make sure you understand the process, what’s involved, the costs and the risks
4. When you are happy, Enness will formally submit your application. Enness will manage the process for you and put out any fires that arise at any point during the transaction
5. Acting as your “point guard” during the transaction, Enness works with your advisers, the lender and all the other parties involved to ensure everyone delivers what’s important: your plan.

Enness’ mortgage broker will work with you on a one-to-one basis. Your broker will be available every day, at any hour, doing whatever needs to be done to ensure your transaction flows smoothly. Communicating, problem-solving and pushing things along.

Enness predominately works with high-net-worth and serious borrowers who understand and value the firm’s contribution and want to ensure a clear process and excellent execution. For these reasons, Enness is often only required for high-value, international and complex transactions, although Enness can offer services to any client who fit the firm’s criteria. 

High-net-worth mortgages are available if you have an annual income of more than £300k or a net worth of £3 million, excluding your principal residence. If you meet these criteria, you can usually opt out of regulated oversight. Lenders will base your mortgage eligibility on your net worth, asset base, family position and other factors. You also won’t get tied down in income, expenditure and affordability analysis.

Complex Income Mortgages or Asset Rich, Low Income

You may not meet the “standard” income requirements many banks require for regulated mortgages. Perhaps you:

• Have complex income structure
• Are self-employed
• Have overseas income
• Rely on trust or investment income
• Have recently retired
• Are recently self-employed
• Have directors’ loans/ retained profit
• Have bonus income
• Are an entrepreneur who has sold a business
• Are retired but asset rich
• And so on

​​​​If you fall into one of the above categories (or a similar one), you will want a broker who has the experience and understanding to secure a mortgage for you. Enness knows this area of the market inside out. Enness’ broker will help you prepare your application and will always negotiate the best terms on your behalf.

Enness’ team will make sure your mortgage offer is granted based on the entirety of your circumstances, not just what it says on your last tax return. Enness can use one year’s income, retained profit, a variable bonus history, pre-paid mortgages, high-net-worth exemptions, sole borrower joint proprietor and all manner of other mechanisms to get you the mortgage you need.

Self-Employed and Entrepreneur Mortgages

People claim self-employed mortgages are complicated and hard to secure. Enness begs to differ. Self-employed mortgages can be straightforward. In fact, the process isn’t that dissimilar to what employed borrowers need to follow. The only difference is that lenders will consider some additional factors. If you are self-employed:

• Your mortgage will be based on an average of your last three years of tax returns

• Some lenders will base your mortgage on your average net profit, plus your director’s salary
• A small number of lenders will factor director’s loans and other elements in their calculations
• Your underlying company will need to be profitable with a stable track record. Some lenders will take the time to understand the effect investment, growth, debt and planning has on your situation

Usually, you will need to have been self-employed for one year or more, or have one tax return, or have one year’s accounts to secure a mortgage if you are self-employed. There are some separate rules if you have moved from an employee to a partner/self-employed in the same industry or company that you may be able to benefit from.

Enness understands how to arrange mortgages for entrepreneurs, business owners and self-employed people and have a track record to match. Your broker will always ensure you are offered the best mortgage, based on your hard work and profile.

The mortgage rate you will be offered in the UK varies widely based on who you are, the part of the market you are operating in, the quality of your advice and what you are trying to do.

Here are some ranges as an example:

UK National and Resident, Vanilla Profile. Low Loan-to-Value, Under £2m:

• Trackers from 1% per annum
• Two year fixed rates from 1% per annum
• Five year fixed rates from 1.5% per annum

UK National and Resident, Slightly Complex Scenario but Well-Advised:

• Trackers from 1.5% per annum
• Two year fixed rates from 1.5% per annum
• Five year fixed rates from 1.8% per annum

​​​​​​Non-UK Resident, Foreign National, Ex-pat or Complicated Factors, Under £2m:

• Trackers from 2% per annum
• Two year fixed rates from 2% per annum
• Five year fixed rates from 2.1% per annum

​​​​​There are options for every possible scenario. Whether you are recently self-employed, borrowing past retirement age, need a buy-to-let mortgage, commercial finance or find yourself in any other situation, Enness will be able to find the best rates and the best terms. You don’t need to think of yourself as being in a category. The Enness team will simply present a solution based on your interactions and ambitions.

Enness’ job is to get you as much money as you need, as cheaply as possible and in the timeframes you require. You can expect your broker to cover all options and guide you to the best solution based for you.

Buy-to-let mortgages are based on the rental income you will generate letting the property out. They are generally unregulated, although, in some circumstances, they will be regulated. Most lenders will need your property’s rental income to exceed the mortgage by 110% to 150%. The rate at which this is calculated may not be the actual rate you will pay. As you can see, buy-to-let mortgages are anything but straightforward!

To add to the complication, many lenders will want you to have a certain level of income. You may also need to showcase you have some experience in owning buy-to-let properties. Other lenders may be concerned if you have a portfolio of buy-to-let properties on the basis more properties could add more risk. The rules are also different if you are buying in a limited company or an LLP where you will need a specific structure, personal guarantees and other elements.

If the rental income isn’t sufficient to cover the mortgage, some lenders take your personal income into account to determine how much you can borrow. This is called “top-slicing.” It is helpful for low yielding properties, high-value properties or if you have a very large income.

The buy-to-let mortgage market is hugely technical and very competitive. There are more lenders here than you can imagine, and each will have individual quirks or oddities in their lending criteria you will need to navigate.

Enness will help you secure the best buy-to-let finance based on your property and circumstances.