80% LTV USD Mortgage for Purchase and Major Refurbishment

A UK-based high-net-worth borrower with foreign currency income approached me seeking a bespoke financing solution to support two significant property objectives at the same time. The client required funding for a high-value property acquisition while also undertaking a substantial redevelopment of an existing London residential asset.

The redevelopment project involved extensive structural works, significant internal modernisation, and a substantial refurbishment budget over approximately two years. At the same time, the client wanted to complete the acquisition without compromising liquidity or disrupting broader wealth planning.

Although the client had strong earnings and substantial liquidity, structuring the right facility was complex. The client earned in US dollars, creating a potential currency mismatch between income and debt servicing under a traditional sterling mortgage. In addition, many lenders impose restrictive oversight, staged monitoring, and ongoing reporting requirements when lending at higher loan-to-value ratios alongside large-scale redevelopment works.

I structured a bespoke facility at circa 80% loan-to-value secured across both properties. The structure released sufficient capital to fund the property acquisition while also providing a circa £1.5M drawdown facility secured against the client’s previously unencumbered London residence to support refurbishment costs.

Crucially, the mortgage was denominated in US dollars, aligning the debt directly with the client’s income and reducing foreign exchange friction on repayments. The structure included a requirement for overall leverage to reduce to circa 70% loan-to-value across both properties within 24 months. Given the scale of the planned redevelopment and expected uplift in value, this was considered achievable.

Importantly, the lender adopted a highly flexible approach to the redevelopment element. Unlike many conventional structures, the facility involved minimal ongoing oversight, limited reporting requirements, and significant operational flexibility throughout the build programme.

This case demonstrates how specialist private banking solutions can support complex multi-property transactions involving foreign currency income, higher leverage, and large-scale redevelopment. By aligning the debt structure with the client’s income profile and long-term strategy.