| Property | Three-bedroom apartment in a portered block |
|---|---|
| Location | Knightsbridge, London |
| Client | Overseas business owner, non-UK resident |
| Product | Private bank mortgages |
The challenge
The family's income and assets were spread across several countries and holding companies. Most UK lenders could not underwrite the structure, and those that could wanted a much lower loan.
What we did
We approached private banks with experience of international, non-resident clients. We prepared a clear wealth and income summary and organised certified documents for the bank's due-diligence checks. We explained the extra time and paperwork involved for source-of-wealth checks, and the currency risk of servicing a sterling loan. Completion dates were agreed with the seller to allow for this.
The outcome
The bank approved the facility at 64% loan to value and funds were released in time for completion.
Private bank mortgagesBespoke, wealth-based mortgages from private banks for high-net-worth borrowers with complex finances.
Learn moreImportant: Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice: up to 1% of the loan, typically £500.