High-value Bridging Loans

In any high-value bridging loan, we want to see:

• A loan amount of £1 million or more. There is no upper limit on what we can lend
• Prime assets in the form of quality, luxury residential property in a prime location (or locations) anywhere in the world.
• A high-quality borrower backed by solid balance sheets, a verifiable track record and good standing.
• Bridge to clear liquidity with clear and likely liquidity events. We can consider speculative exits as long as there is a good plan B
• Reputable advisers involved in the introduction or who support the borrower. These can be tax experts, lawyers, brokers, real estate agents, corporate service providers and other high calibre advisers and introducers.
• A workable and transparent plan detailing how finance can be managed.

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We don’t have hard rules on what we can or will lend against – and this position is vital for high-value lending transactions.

We will look hard at the borrower’s standing and the nature of the property being used as security – this is key. We will then look at how our loan will be exited, how feasible that plan is, and the risks involved.

If we are comfortable with the above, we will do all we can to provide the funds needed to execute the plan, looking at background facts, wider circumstances and additional collateral to make that happen.

We take a wide, progressive and international view on security and are fully prepared to back high calibre individuals with the finance they need.

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No. We can offer large bridge loans for a variety of purposes. We are happy to see loan capital deployed in different ways. This covers everything from equity release to debt consolidation, refinancing, buying a property quickly, bridging as an alternative to conventional property finance products or to create liquidity to achieve specific goals, outcomes or to solve a short-term cash-flow challenge.

• Yes – this is the core of what we do. “Complex circumstances” are always subjective but what considered unworkable or challenging in other parts of the market will be a possibility for us. We can lend to borrowers with sensitive backgrounds, in deals involving complicated properties, in transactions that involve multiple structures and to foreign nationals, expats and cross-jurisdiction, cross-asset, and cross structure deals. We can also lend significant amounts against a single asset.

Yes. Tenn lends against prime residential real estate in the both the UK and abroad. We are open to lending against property anywhere in the world, as long as we see a quality asset and borrower. We are specialists in working with high-net-worth individuals, globally mobile borrowers and sophisticated borrowers.

We can lend if the borrower doesn’t have a local credit footprint, if they are a UK expat based abroad (using UK or international property as security), if they are a foreign national buying in the UK or an individual that owns real estate in a country where they own investment property or a holiday home but don’t have permanent residency.

We also facilitate high-value cross-border lending. Here, we are happy to use an asset based in one location and loan capital deployed in another. If required, we will also consider using multiple assets in multiple locations to write a single, high-value loan that can be used globally.

We offer up to 75% LTV, depending on where the asset is located. We can usually offer LTV in this range for properties in prime and highly liquid markets. LTV may be less for luxury property in less liquid markets, but we will always do what we can to maximise what a client can borrow. If the sum a client wants to borrow amounts to more than the maximum LTV we can offer against a single asset, we can consider lending against several properties in the borrower’s portfolio and, in some cases, against non-real estate assets.

We will look at the security, net worth, income, wealth, plan and proposed exit to see what we can lend against and how to structure the deal to maximise the capital the client can access.

Every loan Tenn writes is personalised to the borrower and the entities they want to use to maximise the efficiency and speed of the deal.

Looking at the relevant structures from the get-go, we will work with our advisers and the borrower’s advisory team to arrange the deal. We can do this even if we are writing a very high-value loan and if there are multiple entities involved. We are comfortable transacting in deals that involve UK or international entities or a mixture of both. 20% of the loans drawn down to date involve more than one structure.