A Holiday Home in Miami Keys & Other Investments

Chris Evans

Miami, Florida

Miami Keys Holiday Home Purchased

We were approached by a UK resident who owned a property in the Miami Keys on its own island. The residential property was purpose built as a holiday home for the client and immediate family. There was no leverage on the property with an estimated value of $19,000,000 and the property was owned via a Delaware LLC.

The ultimate beneficial owner, wished to leverage the property to take advantage of the USD vs GBP currency strength and convert the dollars to sterling based investments.

We worked closely with our corporate partners at Cornhill FX to achieve the best foreign exchange deal available.

  • We arranged a mortgage of $9,500,000 USD on a 5/1 YR IO facility to the Delaware LLC.
  • We organised to bank the debt out of New York with a cross border capability bank.
  • We structured the debt in the most effective manner to achieve the ultimate beneficial owner’s goal of making a positive return on the capital.
  • We worked extensively with external partners, property insurers, UK and US tax advisors and foreign exchange dealers.
  • The case was completed from application to completion in 90 days.

Mortgage Based Solely on Investment Portfolio

This particular client’s sole source of income was from an investment portfolio, however, the majority of the return was reinvested and the portfolio was held in multiple jurisdictions.

  • We were able to obtain an 85% Loan to Value mortgage at highly competitive rates based on a reference from the fund manager confirming the client’s potential income from investments.

£450,000 Equity Released

A 74 year-old client and his wife had their property valued at £2.2M. Their current debt of £550,000 was due to expire with a mainstream mortgage provider.

  • We helped them redeem the existing charge and release £450,000 to fund their lifestyle costs.
  • No monthly servicing was required.

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