| Loan amount | £4,500,000 |
| Purchase price | £6,500,000 |
| Loan-to-value | 69% |
| Property type | Modern luxury home |
| Location | Cheshire (CW9) |
| Borrower | Premier League footballer |
| Term | 25 years interest-only |
| Rate | 5-year fixed |
| Lender type | Private bank |
| Income | Wages + image rights |
The Story
Our client approached Fox Davidson seeking financing on a buy to let property. Our client plays their football at the highest level both for Club and Country and had recently taken employment in Spain.
The Challenge
The client was a sports professional who had recently moved to a Football club abroad and this posed a unique challenge that required our expertise to overcome:
Securing a buy to let mortgage at a 75% LTV was essential for the purchase to conclude (based on the deposit available). The client’s profession (sports professional), their employment type (fixed term contract) and their country of residency (Spain) all posed problems that high street lenders can’t get comfortable with.
We therefore needed to speak with mortgage lenders that assess each case on its own merits.
The Solution
Fox Davidson conducted a meticulous assessment of our clients’ financial situation, considering both their personal circumstances and the potential income from the investment property.
Leveraging our vast network of lenders specialising in sports professional and expat mortgages, we identified those with expertise in financing these situations. Our knowledge of lenders’ criteria and preferences allowed us to select the most suitable lender for the loan.
Working closely with our client, we put together a customised mortgage solution from a private bank that met our clients’ specific financial objectives. Our solution allowed our client to secure a 75% loan to value buy to let mortgage and the property transaction has now gone on to complete.
Results and Success
Through our unwavering dedication and strategic approach, we achieved outstanding results for our client’s property business.
We identified a lender who recognised the unique nature of the scenario and provided a mortgage at the desired 75% LTV, aligning with our clients’ financial objectives.
Competitive and specialist terms: Our negotiation skills allowed us to secure mortgage terms that included competitive interest rates, an interest only facility and a private bank facility for the client. For more information visit our page on mortgages for expats and international overseas buyers of Uk property.
Frequently asked questions
What is a high net worth mortgage?
A high net worth (HNW) mortgage is assessed under the FCA’s high net worth rules rather than the standard affordability test. It is available to borrowers with net assets over £3 million or annual net income over £300,000. Lenders read the net assets test literally and include the equity in your main home, and on a joint application only one of you needs to meet it.
How does HNW mortgage assessment differ from a standard mortgage?
HNW assessment is whole-of-wealth based rather than income-multiple based. Lenders consider total assets, liabilities, liquidity, income, and lifestyle costs, then negotiate loan size based on the overall financial picture.
What loan sizes are available with HNW mortgages?
HNW mortgages typically start at £1 million minimum and have no upper cap. Loans of £5 million to £20 million are routine for qualifying clients. Loans above £20 million typically involve syndicated lending or relationship-driven arrangements with private banks.
How long does an HNW mortgage take to complete?
HNW mortgages typically complete in four to ten weeks. Mainstream HNW lenders are at the faster end. Private bank cases involving committee approval, complex structuring, or offshore elements can take eight to twelve weeks.
All rates and terms are indicative and subject to individual assessment, lender criteria and property valuation. Your home may be repossessed if you do not keep up repayments on a mortgage.
High net worth mortgages under the FCA high net worth definition. Private bank and specialist lender access.