Case Study –High-Value Mortgage | Income Denominated in Dollars

Value	£13,800,000
Loan	£9,660,000
Location	Hampstead
LTV	70%
Achieved Rate	1.69%
Term	5-year fixed

The Client

Our client had found a new property to purchase at £13.8m. Whilst our client had a strong income, it originated in dollars, which some lenders will not typically accept. Despite having substantial assets, the client did not wish to liquidate or lend against any of these to fund the purchase and was instead wanted to maximise borrowing at 70% loan to value.

The Solution

Typically the majority of banks cap their lending at 50%-60%, however, our client was only interested in securing a deal at 70% LTV. In this scenario, we were able to use our knowledge of the client’s income to break down and set out a capital repayment plan over the first 5 years. This allowed our client to secure the day one lending for his desired outcome, whilst providing the bank with the confidence that after the initial 5 years, the loan will be reduced to 60% loan to value.

The Henry Dannell Difference

Understanding our client's requirements, income structure and relationships with various lenders meant that we were able to source the right solution for our client with a private bank, securing a loan of 70% LTV at 1.69% for a five-year fixed term, ensuring his current assets remained unencumbered and he didn’t need to revert to securing a Lombard loan.