James Evans’ Largest UK Loan to Date
An offshore company owning a prime central London residential real estate wanted a loan to help refinance the development of the primary asset and an additional lump sum to complete the works.
With two residential properties held as security, we arranged a £20m refinance. £15m was used to repay the current lender and £5m was to help complete the development. The properties are are used as main London residence and also a pied-a-terre. With a complex offshore structure, the ownership benefits from being non resident non domiciled.
Fast £5.1m Bridging Loan In Spite of Hurricane
A borrowing entity based in the British Virgin Islands (BVI) wanted to invest in an offshore renewable energy business. It took 3 weeks from application for the bridging loan to drawing funds, which was a longer time than usual, due to BVI being closed in the wake of Hurricane Irma.The 12-month term loan was secured on a first legal charge basis with no personal guarantees or debentures, despite the complex non resident non domiciled status of the ultimate beneficial owners.
$6.0m Purchase of New York Apartment
A private bank, unable to assist with US based lending, referred a prime client, who wished to purchase a New York property. The client was not a US citizen or tax payer.The loan was agreed at 70% loan-to-value on a super competitive adjustable rate mortgage on a nonrecourse basis via an LLC borrowing entity. There were no lender fees or early repayment charges. We worked with the client’s legal and accounting teams throughout Europe to complete the complex due diligence process.