Refinance and capital raise for foreign national on UK property


A foreign national client was recently introduced to us by a private office. They were a high profile politically exposed individual looking to refinance their existing loan as well as raise additional capital. My client wanted to raise £20million for further investment, in order to diversify their portfolio of stocks and shares. Due to their relationship with an international royal family, it was important to act with complete discretion and confidentiality.

My client had an existing property portfolio worth £65million; two properties in Belgravia and one in Mayfair, all of which were owned within an offshore special purpose vehicle. Although they had three properties in the UK, they were non domiciled, only staying in them on visits to London.

My client being politically exposed meant that sourcing all the necessary information for the bank to agree to the request was a challenge as they preferred to remain as private as possible. Furthermore, securing the details via the private office, rather than having direct contact with the client, made the process slightly less streamlined.

Thanks to my experience and knowledge in securing finance for such private clientele, I knew exactly which bank to go to. My excellent relationship with the Dubai-based bank also meant I was able to get them to compromise and ensure the process ran smoothly. This certainly wasn’t a ‘tick box’ scenario and it required creative thinking, something we are experts in at Enness, thanks to our experience in regularly handling these types of cases.

The lender was willing to provide a 75% loan to value (LTV), on a five-year interest only facility with a rate of just 1.6% over Libor. This amounted to a total loan offer of c.£48million – with c.£28million being used to refinance an existing loan and a further £20million being used by the client on various liquid investments.