Case study: A £7.65m mortgage in 12 business days

Investec private bank offers a range of mortgage solutions for high-net-worth individuals.  We recognise that some want to seize opportunities in the property market at speed. As our team specialises in understanding and leveraging complex wealth profiles, this means we can often tailor a mortgage quickly. We recently enabled an entrepreneur to draw a 75% LTV mortgage within 12 days.  

The borrower

Our client is the co-founder, CEO and majority shareholder of a UK-based privately owned shipping company. The majority of the client’s wealth was tied up in their private company and an offshore trust. The structure and value of the client’s remuneration had changed significantly over the past five years.

The problem

The client had a mortgage offer with another lender and had progressed with the legal due diligence, but was looking for a new lender who could meet a three-week completion deadline and offer a higher LTV.

While the client had been receiving a salary and bonus income from their company, their remuneration had recently shifted to being predominantly from dividends. Investec had to undertake increased due diligence to be satisfied with the ability to draw income from the company.

The solution

Investec was able to provide a mortgage with increased leverage and meet the completion deadline. The mortgage was drawn 12 working days after the initial enquiry. The loan of £7.65m was provided at 75% LTV for a 10-year term on an interest only basis, with the client planning to reduce the LTV in the first two years.

Important information:

Minimum eligibility criteria and terms and conditions apply. Your property may be repossessed if you do not keep up repayments on your mortgage. Investec residential mortgages are only available for residential properties in England or Wales and are primarily available to UK residents and subject to eligibility.