£2.7 million remortgage for ultra-high net worth client with property owned via BVI company structure

An international buyer resident in the United Arab Emirates was looking to refinance his unencumbered family home.

The client was an ultra-high net worth individual with income generated in a high-risk industry which many lenders were not comfortable with.

The £4,250,000 property was owned through a BVI company structure and the client wanted to raise 65% loan-to-value (£2,750,000).

One of Trinity's directors secured the mortgage with a private bank and it did not require any assets under management as part of the transaction.

The rate was 2.5% above LIBOR (currently 0.8%) over a five-year interest-only period. The overall cost for comparison is 3.8% APRC representative.

Case details

Property type: Large house

Value: £4,250,000

Mortgage: £2,750,000

Rate: 3.30%  - currently 2.5% above LIBOR (0.8% variable) for five years.

Reversion rate: N/A.

The overall cost for comparison is 3.8% APRC representative.

Lender’s arrangement fee: £27,000

Mortgage term: 5 years

Repayment type: Interest-only

Loan-to-value: 65%

Early repayment charge: No early repayment charges.

Overpayments: Unlimited.

Representative example: A mortgage of £4,250,000 payable over 5 years, initially on a LIBOR tracker basis for five years, would require 21 quarterly monthly repayments of £23,000. The overall cost for comparison is 3.8% APRC representative. The total amount repayable would be £3,275,558 plus fees of £27,000.

Affordability is calculated on an individual basis. The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.

Call Trinity Financial on 020 7016 0790 to secure an ultra-high net worth mortgage