Roll-Up Mortgage Success
One of our clients needed to raise short-term capital against two London-based residential assets. Both assets were held in companies based in the British Virgin Islands and share capital was owned by an off-shore trust with a European-based ultimate beneficial owner.
There was no provable income as the client had sold their business about 6 years ago and their current start-up was making a loss.
We arranged an 18-month bridging loan for a first legal charge mortgage. There are no personal guarantees or debentures and, as it is roll-up mortgage, there are no regular payments to be made. Instead, the interest and fees are added to the loan, which is repaid upon ultimate exit sale of the property or on refinance.
The deal was completed within 1 month from enquiry.
Investment Portfolio Secures Mortgage
A client had minimal earned income but was asset rich in terms of investment portfolios. They reinvested profits from those investments and were sustaining their lifestyle with pension income. The pension, however, was insufficient to support the required mortgage and receiving income from the investment portfolio would have pushed the client into a higher tax bracket.
We were able to secure an interest only mortgage to age 80 using a percentage of the value of the client’s investments to support the borrowing requirements.