Global Finance Partners secures £1.2m mortgage for HNW client with complex income
The financing, at approximately 40% loan-to-value (LTV), was complicated by a significant change in the client’s circumstances.
Global Finance Partners has secured a £1.2m mortgage facility against a £3m residential property for a high-net-worth (HNW) client with a changing income profile and newly established business.
The financing, at approximately 40% loan-to-value (LTV), was complicated by a significant change in the client’s circumstances compared with those shown in his historic tax documentation.
Previous partnership income had ceased following a change in his professional circumstances, while ongoing consultancy work was being transitioned into a newly established company.
The company had been incorporated earlier in the year and therefore had no established trading history or completed annual accounts.
Global Finance Partners worked with the client to establish his current professional and financial position and presented additional supporting information to the lender’s underwriting team.
The client’s accountant also provided information on the anticipated first-year position of the business, based on management information and activity since incorporation.
The financing included a £200,000 capital raise, allowing the client to recoup funds previously invested in refurbishing the property. This was not treated as debt consolidation.
Following an underwriting assessment and review of the supporting information, the £1.2m facility was approved.
Serkan Osman, director at Global Finance Partners, said: “This case is a good example of what we mean by ‘Simplifying the Complex’.
“The client’s circumstances had evolved significantly, including a transition into a newly established consultancy company with no completed accounts, while the financing requirement also included a substantial capital raise.
“Our role was to understand the wider financial position, structure the financing appropriately and work closely with the lender to present the case clearly. We were ultimately able to secure approval for the £1.2m facility, together with an additional £200,000 capital raise.”
Osman added: “For HNW and UHNW clients, particularly those with complex or changing financial circumstances, our approach is deliberately considered and discreet.
“We take the time to understand the wider picture, simplify the complex and structure financing around the client’s individual requirements.”
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