Need bridging finance fast? See how we secured a million-pound finance package within 10 days

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If you’re based overseas, one way to invest in UK real estate is by setting up a special purpose vehicle (SPV). This is usually a company or a trust, which owns the property. The benefits of doing so will depend on the tax legislation at the time and therefore it’s vital to take specialist advice when considering your options. When it comes to borrowing money through these SPVs it’s certainly possible, but it’s not straightforward and requires specialist advice from a team of brokers experienced in this field.

Case profile

Our Associate Director Mark Pattanshetti was recently approached by a client with a particularly complex set of circumstances. They wished to refinance their London buy to let property, which was held in a trust, in order to clear a bridging loan. However, their time frames were incredibly tight, and they needed the money within 14 days. To add to the complexity, the clients – who lived and worked overseas – were facing legal action and significant financial penalties if they did not clear their existing loan.

Solution

Mark was able to use his knowledge and our network of lenders to find a bridging finance specialist which could work quickly and use specialist legal counsel to understand the trust. The lender’s underwriting processes were minimal and flexible and were able to accommodate all of the client’s circumstances, successfully processing the case within 10 working days.

Deal Highlights

Loan amount:
£1,032,500
Annual interest rate:10.80% fixed
Loan To Value:
54%
Term:12 months
Type:Interest Only
Loan purpose:Refinance
Lenders arrangement fee:2% of the loan amount
Early repayment charge:No penalty after the first 3 months

10.80% p.a. fixed throughout the term. Annual interest paid in advance of £111,510.00. The actual rate available will depend upon individual circumstances and may not be available to everyone. Ask for a personalised illustration.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

The Financial Conduct Authority does not regulate some aspects of bridging finance. 

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk.  The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending.  

Largemortgageloans.com Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business.  

Largemortgageloans.com Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.