We recently completed a EUR 3.3 million loan to a UK-resident. The client was looking to repay existing indebtedness over a property in a prime European jurisdiction as well as assisting them to undertake minor refurbishment works over their UK property. We were able to arrange the loan over an 18-month term.
Security was provided by shares and corporate guarantee of a UK company which in turn owns the property against a 60% LTV. This deal involved transferring the property into a UK Company once all existing indebtedness was repaid from the loan proceeds.
The transaction also saw the requirement to seek jurisdictional permissions to transfer the property, which was completed by the Tenn team and assisted the Borrower with advice and guidance throughout the entire transaction.
We have experience in cross-jurisdictional arrangements such as this, and would welcome clients who may need such a loan.