The case in brief
- Client: British national and Resident in the United Arab Emirates
- Property type: Country house outside London
- Property value: £9 million
- Loan Amount: £5,500,000
- LTV: 61%
Looking for a high-value mortgage? Download our High Net Worth Mortgage Guide to find out more
The client
In this case, we were approached by one of our high-net-worth clients. The client is a British citizen living in the UAE – to learn more about the services we offer for UAE clients, please click here. The individual owns a prestigious country estate outside London and was looking to refinance it in order to repay the bridging loan utilised for its purchase. The client required a significant loan amount to achieve the objective. To find out how we can assist you if you’re living overseas, visit our UK Mortgages for Expats page or download our guide.
Arranging financing for the client was challenging due to various factors:
Firstly, the client’s residency and the currency of their income (UAE dirham) – meaning that a specialised approach was required in securing the loan. Lenders often perceive any connections to the Middle East country as higher risk, which can impede access to financial resources.
Additionally, the nature of the property introduced complexity as the client was looking for a substantial loan for a large country house located outside of London – This can restrict borrowers’ options as not all lenders are willing to finance high-value properties of this type outside the capital.
In order to support such cases, we collaborate with lenders to provide them with details and background information on the client. This is typically a necessary requirement for accessing finances – especially for high value loans.
Our solution
Due to the unique elements involves in the case and the significant size of the deal, brokering the loan required careful attention.
Articus successfully approached a private bank with connections to both the UK and the Middle East, making it easier to access financing. We were aware that some lenders might find it difficult to accommodate the client’s unique financing needs combined with their unconventional background. However, we secured a competitive loan of £ 5.5 million through effective negotiation.
If you are an Expat client looking to invest in the UK property market and need assistance with your mortgage application. Do not hesitate to contact us for personalised assistance and guidance.