When it comes to international bridging finance there can be significant differences from country to country. Here at Enness, we have built up very close relationships with retail banks, private banks and private lenders across the market and our independent status allows us to negotiate with freedom. This ensures that we can negotiate a specific bridging finance structure to reflect the individual requirements of our clients.
French bridging finance
Historically the French bridging finance market has tended to be fairly restrictive when it comes to non-French residents. However, we have been able to negotiate some very attractive deals for clients including the following example.
Headline details:-
Type: Purchase/ Refinance/ Equity Release
Borrower: Offshore or U.K SPV/ Personal name for a Non-French resident
Loan to Value: 65%
Interest rate: from 9.50% per annum (0.79% pcm)
Additional information:-
Interest only
Rolled up, serviced or retained interest
Term up to 3 years
1st charge mortgage
No redemption penalties
Monaco bridging finance
The Monaco bridging finance market is extremely liquid with many of our customers able to utilise existing assets as security. Loan to value ratios will be considered on a case-by-case basis with the following example recently secured for a client.
Headline details:-
Type: Purchase/ Refinance/ Equity Release / Refurbishment
Property Type: Residential / Commercial
Borrower: Local SPV/ Offshore SPV / French Trust
Loan to Value: 60%
Interest rate: from 8.40% per annum (0.70% pcm)
Additional information:-
Interest only
Serviced or retained interest
Term up to 3 years (optional 1 year extension)
1st charge mortgage
No redemption penalties after 6 months
Spanish bridging finance
Despite the fact that Spanish banks are still carrying significant debts as a consequence of the 2008 US mortgage crisis, there are specialist bridging finance lenders willing to provide capital. As you can see from the following example, we recently negotiated a competitive loan to value ratio and headline interest rate for a client.
Headline details:-
Type: Purchase/ Refinance/ Equity Release / Refurbishment
Property Type: Residential / Commercial
Borrower: Local S.L / Offshore SPV
Loan to Value: 65%
Interest rate: from 9% per annum (0.75% pcm)
Additional information:-
Interest only
Serviced or retained interest
Term up to 3 years (optional 1 year extension)
1st charge mortgage
No redemption penalties after 3 months
Even though many retail banks have taken a step back from the international bridging finance market, there are still private banks and private lenders willing to negotiate on a case-by-case basis. We have been able to negotiate some very competitive deals for our customers and would welcome a no obligation chat if you are looking for bridging finance.
