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Cayman Bridging Loans

Bridging loans are a type of short-term finance, and these loans last from a few weeks up to around 36 months. You can use bridging loans to buy property in Cayman quickly or without a conventional mortgage or to raise the capital you need to buy a new property in Cayman before you have sold your old home.

You can also use Cayman bridging finance to release equity from real estate you own in the jurisdiction. You can use any type of property as security, but residential real estate is the most common.

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Enness' Offer – Cayman Bridge Loans

  • Offers for bridging loans in Cayman in 24 hours or less
  • Use any residential or commercial property as security
  • Release equity from prime, unencumbered Cayman property
  • Rates from 0.75% 
  • No minimum term
  • Use loan capital in Cayman or internationally
  • Expertise and track record in brokering high-value bridging finance and equity release deals

Using Bridging Loans in Cayman

Bridging loans are one of the most flexible types of short-term finance available on the market. Lenders are open to Cayman bridging loans being used in various ways as long as you have a feasible plan that you can document. In most cases, you can use bridging finance to generate capital to buy property quickly or to create liquidity via equity release, allowing you to pursue projects or solve challenges. While there are few limits on how you can use Cayman bridging loans, common scenarios can include:

  • Completing property transactions quickly in Cayman
  • Using bridging finance as an alternative to an international or domestic mortgage, or other types of conventional property finance product
  • To finance a property purchase, if you face losing a deposit on Cayman property you plan to buy
  • To buy real estate in Cayman before you have sold another property in your portfolio that will allow you to finance your onward purchase
  • To release equity from real estate you own in Cayman. You can use this liquidity to invest, buy other assets or securities, finance projects, consolidate debt or generate capital to solve challenges or problems

Enness can broker bridging loans – including high-value deals – for use in various ways. You do not need to reside full-time in the Cayman Islands to qualify for these loans.

How Do Cayman Bridging Loans Work?

Enness brokers Cayman bridging loans of any size and specialise in deals involving prime and high-value real estate. Enness can broker large Cayman bridging loans secured against luxury property in Cayman, including finance of $10 million or more.

Bridging lenders will offer you a short-term loan secured against real estate you own in Cayman. Bridging loans aren't used in the same way as conventional property finance: you will always use a bridging loan to achieve a specific outcome or solve a problem in the short term. You must have a solid plan for using and managing funds. Lenders will want to understand your exit before considering lending, although they are open to how you do this. Refinancing, property disposal (either in Cayman or abroad), and liquidity events are common exit plans. 

How much you can borrow will depend on your property's value, plans, financial background and net worth, and exit. LTV in the range of around 60 or 65% for a Cayman bridging loan is standard, but some lenders are adaptable and can offer a little more or, sometimes, a little less. Some lenders can also consider securing a loan against multiple assets in Cayman or internationally to increase what you can borrow. This option is ideal for high-net-worth individuals with global property portfolios. The stronger your financial situation and background and the higher your net worth, the more you will likely be able to borrow.

Many lenders are happy to offer large bridging loans secured against Cayman property. Loans of $1 million or more are very common, and Enness can also arrange multi-million-pound bridging deals if your property and financial background support this.

Enness can also structure Cayman bridging loans for you if you or your advisers have specific requirements or requests to optimise or streamline borrowing. Enness can negotiate loans structured via entities and various ownership structures in Cayman or abroad. Experts in international and cross-border finance, Enness can broker bridging deals secured against Cayman real estate where you can use loan capital in other jurisdictions to buy property or for other projects such as investments, debt consolidation and so on.

Whatever your goals and requirements for a Cayman bridging loan, Enness will always be working on your side to deliver the best bridging loan for your circumstances. As well as negotiating a bridging loan for you, your broker will work with you and all the parties involved in the transaction to complete the deal as quickly as possible.

Cayman Equity Release

You can use Cayman bridging finance as a way to release equity from real estate you own in Cayman. You do not need to be a full-time resident of Cayman to be able to use bridging finance to release equity from a property you own in the jurisdiction. Your lender will secure the bridging loan against your real estate in Cayman, and, if you wish, you can use loan capital for international projects and domestic ventures. You may want to use capital to buy property, invest, purchase property or assets, consolidate debt or solve short-term cash-flow issues. Lenders will be open to how you want to use the loan, provided you have a viable plan and exit. 

Currencies

Many lenders can consider offering Cayman bridging loans or equity release secured against Cayman property, but where loans will be used in cross-border deals. For example, you may wish to raise equity against a high-value Cayman residence but use the loan capital in another jurisdiction – many high-net-worth individuals want to pursue this option. Many lenders offer loans in different currencies, despite securing the loan against Cayman real estate. Enness can broker loans in pounds sterling, euros or Swiss francs as well as other currencies if needed, which can streamline and simplify using loan capital internationally and bypass costly currency conversions.

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Get In Touch

Enness is a leading broker of Cayman bridging finance and equity release. Get in touch to discuss your needs, and the team will talk you through your possibilities and give you more information about bridging finance tailored to your personal situation.

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