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by Julian Ingall on 12th March 2021



Did you know we also help international clients source property finance?

Our recent client was a UK National but Qatari resident with income paid in Rials. They had previously approached Coreco in need of a Sharia mortgage for a property in Scotland. A Sharia mortgage is a mortgage which doesn’t involve paying interest because it is forbidden under Islamic Sharia law. They now needed to refinance a high value Central London property for capital raise purposes to enable the development of the property with the Sharia mortgage on it.


The client was looking to raise and additional £1.5 million against their London property. However, high end central London values took a hit across last year and due to a lack of international travel alongside ongoing Brexit issues, the property valuation dropped to £7.5 million from £11 million in 12 months.

In addition, the client’s affordability was a constraint due to high personal staff costs, the second home and high spending habits.


Specialist adviser Stuart Ockleford knew he not only had to source a multi-million-pound mortgage, but it also needed to be with a lender who was happy with the use of funds being put towards a property with a Sharia mortgage attached to it. He approached Bank of Butterfield who agreed a mortgage of just under £5 million, based on an additional cash deposit that the bank have a first legal charge over of 12 months interest. This overcame the client’s affordability issues and left the lender confident that the money could be repaid when the time came.


We’ve also helped UK clients secure multi-million-pound property finance when they needed a bridging loan but were restricted by time scales after their existing facility had expired. Whatever your situation, we’re here to help. Contact us today or call 0207 220 5100 to speak to one of our friendly advisers.


Written by Julian Ingall

Director of Coreco Commercial

Julian is one of the mortgage industry’s true legends, following his passion through thick and thin to run our highly successful Specialist Finance division. Having always had an interest in property and initially part qualifying as an Architect, Julian decided to join the Financial Services industry in 1989, cutting his teeth at John Charcol in the early 1990’s. After opening their Guildford Office, Julian left to spend time assisting High Net Worth individuals with tax efficient investment schemes. In 2000 he jointly founded the boutique Mortgage Brokerage Cobalt Capital. As the managing partner of Cobalt Capital and at the centre of its growth, the company expanded to a peak of 90 staff and developed into one of the leading mortgage brokerages in London. With more than a growing interest in the specialist and commercial sectors of the mortgage market and a determination to obtain finance on the seemingly impossible, Julian decided to follow his passion and invest into Coreco, becoming a Director in 2010. His aim is to drive this business forward to become one of the strongest specialist finance teams in the industry, focusing on large residential loans for development/investment purposes and large property portfolios. Julian is also a proud member of the FIBA Executive Committee.

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