Residential mortgage for £20m Surrey home owned via overseas company with complex self employed income

Residential mortgage for £20m Surrey home owned via overseas company with complex self employed income

Area
Surrey
Capital Raised
£13m

The Scenario

Our client approached us looking to purchase a beautiful, grand surrey home valued in excess of £20m.

They had a complex and intricate income portfolio, operating a network of overseas companies across multiple jurisdictions.

They also wanted to own their property through their overseas company and were willing to put down a deposit of 35% towards their purchase.

The size, ownership structure, and complicated income sources threw up a number of obstacles with this case:

  • Our clients’ self-employed income via multiple international sources needed a comprehensive and bespoke analysis, which many lenders simply aren’t equipped for.

  • In the property finance market, there is a narrower appetite for single, high-value assets like our client’s property. This is due to lower demand and longer sales periods for ultra-high net worth properties, rendering them fairly illiquid compared to standard residential homes. They therefore represent a greater risk from a bank’s perspective.

  • Our client wanted to own their property via their overseas company which complicates the process due to the legal administration involved.

  • The market appetite for this size of loan is a 50% deposit, and we wanted to provide our client with a more attractive loan to value ratio.

The Solution

We started by reassuring our client we have the ability, expertise and trusted relationships to secure an appropriate finance solution for their aspirations.

We then spoke to multiple lenders and private banks to determine the best approach for this case, eventually settling on our first recommendation.

We focused on the importance of investing time into our initial conversations with each lender, as lending criteria for foreign jurisdictions can fluctuate in line with internal appetite and the risk profile of each country involved.

Our broker secured a bespoke mortgage that accounted for all of our clients’ needs:

  • 65% loan to value - 15% higher than the market norm for properties of this value.
  • Interest-only mortgage with annual capital reductions to fit with our clients’ repayment preferences.
  • Offered flexibility on the length of term, with interest rates ranging from 2 to 2.5%.
  • Facilitated ownership through their overseas company.
  • Understood and accepted our clients’ self-employed overseas income structure.

The process, from offer agreed to completion, took around 2 months, which we were thrilled with considering the complexity of the case.

The bottom line...

Without speaking to Clifton Private Finance, our client wouldn’t have known the best lenders to begin conversations with.

In addition, high value, intricate cases like this require an existing relationship with lenders to ensure fluid and efficient communication between all parties throughout the process. This is difficult to obtain as an individual applicant without a trusted relationship in place.

It’s also important to remember that, even if you haven’t identified a property yet, we’re always keen to review and start the process with you. Every situation is unique and can require unexpected legwork to obtain approval.

The earlier you set the ball in motion, the quicker we can help iron out the issues and secure your property finance as soon as you make your offer.

Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance? I specialize in helping international clients source residential and investment property finance for UK property. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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