We have committed funding, plus additional backup lines
Our capital comes from a major institution who have backed us to build a loan book. We have £300m to lend, and so long as the case fits our lending criteria and passes our credit committee (which convenes on demand), we can lend. We never need to go and find the money to lend to our clients, convince third parties, syndicate loans or anything else.
In addition to our main funding line, we have a number of secondary agreements in place, plus our own capital, which we can deploy into loans in different ways to make deals work.
We have money to lend – we don’t need to find it.
We lend on international real estate
Our minimum loan size is £1 million. We like to lend on valuable properties and to high-net-worth or successful individuals with a proven track record, and we can lend for up to three years.
We are absolutely fine taking security over property in the UK, Europe, North America, the Caribbean and further afield. As long as we understand the property, we can establish a value, the transaction makes sense, and it is possible for us to structure transactions in accordance with all relevant laws and regulations, we are happy to lend.
What’s more, we can lend into almost any structure: companies, trusts, LLPs, foundations and so on. It’s our specialisation, and, in most cases, we prefer to lend via a structure, or it’s the only way we can.
We have our own lending criteria
Our lending criteria was written by us, Tenn Capital – every single page of it. However, we are flexible and can make exceptions if the case is strong enough (if there’s a great borrower or great asset), and if we want to, we will consider changing our criteria.
As a lender, this gives maximum agility, complete control and allows us to work with our partners fully. For example, we don’t offer sophisticated second charges. However, if we see a client with an excellent balance sheet, who can show a guaranteed repayment or who will offer secondary security, we are more likely to help.
The key is to speak to us about what’s needed, and we can try to find a solution that works for everyone.
We look for ways to lend
The only way we make money is to lend money: we have lots of money to lend, and we absolutely want to deploy our capital.
Even though the property markets and the economy look a little unsettled at the moment, we are not disproportionately concerned. We recognise that opportunity exists in changeable markets and that credit and liquidity are vital.
We look at every single enquiry with a keen desire to find a way to lend. Our deep experience and wider network give us all we need to find a way to unpick and solve even the most challenging lending requirements.
If we can’t help, we’ll tell you very quickly. However, if we like the sound of the transaction, we will do all we can to make it work.
Once we offer a term sheet, unless the facts change, the offered rate will be the same as the completion rate.
Lastly, and most importantly – our money is committed and fixed. We are not linked to the Bank of England base rate, and we don’t have to find money to fund our offers.
This means that, with absolute confidence, if we issue an Offer Letter, that pricing will match the facility exactly, and that will then be the terms on which the case completes.
Of course, if something changes in the transaction, there’s a down-valuation, new material information or anything else, we may have to change our offer accordingly – and we see that as reasonable. What’s not reasonable is changing the terms of an offer without a corresponding change in the fundamentals of the transaction – and that’s one thing we will never do.
If you would like to learn more about what we do, when we can help, or our expertise, get in touch – we would be delighted to talk you through our approach and how we lend.