Providing fast paced solutions for a complex refinance through an offshore company

Loan Amount:
£3,150,000

Property Value:
£4,500,000

LTV:
70%

When purchasing or re-financing a property through a company, the complexity of the company structure is something that can add many twists and turns to an otherwise straightforward case.

Luckily, our teams of experts always conduct their underwriting from day one, to provide the time to overcome complications, be upfront on costs and fees, and find a flexible solution that supports the clients’ intentions.

Upfront underwriting to overcome complexities that arose

A broker came to use looking for a fast-paced solution for their clients. The borrowers had intended to sell their property but, due to unforeseen circumstances, had to put this on hold.

The time scale to complete the works would push them past their term end date and they therefore needed to refinance their initial loan to ensure they did not go into default. Our team knew we had to work swiftly to meet the tight deadline. Furthermore, during our KYC checks, we discovered that one of the clients had an interesting background, adding an extra complexity that we needed to overcome.

We always take in the bigger picture and so we completed enhanced due diligence to ensure we were comfortable with the loan. We were happy to proceed following this extra step and a valuation was soon carried out.

The allocated BDM liaised with all parties to overcome obstacles and meet time constraints, receiving initial valuation figures over the phone to speed up the process and meet the deadline.

The size of the property, and its location in a prime area of London meant that we knew strong rental returns could be achieved for the life of our bridging loan. The rising demand for rental properties due to the current supply issues in the market also strengthened the position.

With the potential for long term capital appreciation and a desirable location to tempt future buyers, our underwriter was satisfied and happy to proceed with the loan. Funds were released and the client was able to meet their refinancing deadline.

Working with your redemption costs

When selling a property, it is important to make sure you take into consideration all the costs that come into play and how. Understanding your redemption figure, and options, will be key to this.