A great loan demonstrating our international capacity and comfort with ownership structures.
Introduced via a Gibraltar-based mortgage broker. The borrower owns a Let property in Gibraltar, owned by a limited company. Valued at £1,370,000 with an existing mortgage of £350,000. We refinanced the loan and advanced an additional £500,000 to the company.
These funds were used to pay the deposit on a new property acquisition in Gibraltar, the balance coming from cash held by the borrower.
The borrower is a Gibraltar resident, of high professional standing and has a strong and diversified balance sheet. As a result, we were entirely comfortable with his profile and took a wide range of options as one of the eventual repayment strategy – sale of the subject property, sale of other assets or a refinance.