- Client: Swiss resident
- Purchase Price: Circa €1m
- Loan Amount: Circa €1m
A Swiss resident sought a mortgage to purchase and chalet in the French Alps. Despite high earnings and strong assets, several traditional French banks offered low LTV’s (loan-to-value’s) due to the property’s condition.
The challenge for this case was finding a lender who would offer a higher loan amount, considering the strong client income and asset profile as well as being willing to lend additional funds for the work they planned to complete, which included all the necessary adjustments to be done to improve the optimal performance of the property. Furthermore, we also needed to find a lender who was familiar with the area and property type and was comfortable lending knowing the improvements to be made as well.
Rapidly, Enness presented two sets of terms to the client that fit what they were looking for, including a €1m mortgage amount which covered the additional renovation costs, and the bank was happy to finance with a much higher LTV regardless of property’s current state.
Enness specialises in complex cross border transactions to provide the best possible terms to our clients taking their full client profile into account and meeting their specific needs and circumstances when negotiating with lenders.
If you or any of your clients are also having trouble arranging a mortgage or refinance in France, please get in contact to explore your options.
