Our Client, a high-net-worth individual based in Europe, was introduced by one of our regular brokers. The request was to assist the Client with a 12-month loan facility, allowing them to repay existing debt over the asset offered as security, a large UK property set on 23 acres.
This was a simple structure despite the Client being a European resident – we lent directly to the individual and took a first legal charge over the UK property.
The terms were agreed with a 12-month facility being advanced for £3.8m with interest being serviced monthly with an overall Loan to Value at 63% – another successful completion to a Client based overseas.