€3m Bridging Loan on Ibiza Residential Property to Fund London Development Project

€3m Bridging Loan on Ibiza Residential Property to Fund London Development Project

Area
Ibiza
Capital Raised
€3m

Raising short-term bridging finance on a property abroad is notoriously tricky - if it's your only option to raise funds, you need to go to the right specialist finance broker, or the deal just won’t happen.

This case is an excellent example of our industry knowledge, problem-solving and hard work that enables us to secure property finance for clients in complex financial situations when other brokers have let them down.

The Scenario

Our clients came to us in need of quick finance of €3m to finish some significant development work on their London property.

They already had outstanding mortgages on the London property, which meant they’d been unsuccessful in raising further funds against it to finish the works.

They needed to find an alternative funding source, and they'd identified their residential property in Ibiza as a potential asset to secure the loan against.

But their stumbling block was finding a bridging lender that was happy to lend against an overseas property.

The lending pool is already significantly smaller than a standard mortgage for a large UK bridging loan, but raising finance against an overseas property reduces your options to a minimal number of private lenders.

The Solution

Our specialist finance adviser knew the difficulties of securing an overseas bridging loan against an asset abroad but was aware of two private lenders that had the potential to help.

We quickly gained a detailed overview of our client's financial situation and approached the lenders to obtain some initial figures for what their finance options could look like.

They were happy with the terms and were thrilled to have such a quick turnaround for a potential solution considering the difficulties they’d faced up to this point.

We liaised with their solicitor and our contact at the preferred lender to arrange the finance and secured a €3m loan against the Spanish property on a 12-month term, representing a 60% loan to value (LTV).

  • The clients would repay the bridge within 12 months upon selling the property in Spain, giving them plenty of time to wait for a good offer and realise its full value.
  • They also moved the ownership of their Ibiza property into a limited company before taking the loan, making their interest repayments more tax-efficient due to their existing personal income structure.

The bottom line...

If your mortgage broker isn’t aware of the specialist banks and lenders that could help with a complex case like this, you won't be able to get the finance you need.

We endeavour to explore all the possible finance options for our clients, regardless of the complexities that will come up along the way, and it’s our experience and commitment to each case that allows us to do that.

 

Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

Are you looking for a similar type of property finance?

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George Abouzolof

Finance Broker

Bristol

0117 403 3444

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you 

book a telephone appointment with one of our brokers today

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Bridging Team

Clifton Private Finance

Bristol

0117 959 5094

Are you in need of a similar type of property finance?

Book a free telephone consultation with one of our bridging specialists today and see how we can help you.

 Book a free telephone consultation with me at a time to suit you

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you 

  Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

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Fergus Allen

Finance Broker

Cardiff

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you

 Book a free telephone consultation with me at a time to suit you, clifton private finance

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you 

Free telephone consultation service, Clifton Private Finance

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you

 Book a free telephone consultation with me at a time to suit you, clifton private finance

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Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Book a telephone consultation at a time that suits you:

telephone consultation service, Clifton Private Finance

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

 Book a free telephone consultation with me at a time to suit you, clifton private finance

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you 

 Book a free telephone consultation with me at a time to suit you, Clifton Private Finance

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Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

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Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements. customDatabaseField-8455

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