- Client: International high-net-worth clients with multi-jurisdictional income
- Challenge: Urgent capital release against a refurbished UK property with outstanding completion documentation
- Loan Amount: Circa £2M second charge bridging loan
An international high-net-worth client approached Enness requiring urgent access to circa £2M of liquidity secured against a UK residential property. The requirement was time-sensitive, driven by an external investment opportunity with a defined completion deadline.
The property introduced additional complexity. It had recently undergone a substantial refurbishment and, although nearing completion, certain final works and associated documentation remained outstanding. This meant that standard completion documentation and sign-off had not yet been fully finalised, creating an additional consideration when identifying a suitable lender.
The client's profile added a further layer of complexity. The borrowers had an international financial footprint, with tax residency, business interests and income spread across multiple jurisdictions. Their income was derived from several international sources, creating a non-standard profile requiring careful lender assessment.
In addition to the financing requirements, the transaction required coordination across multiple jurisdictions within a compressed timeframe. Identity verification, supporting documentation, lender approvals and legal requirements all needed to be managed concurrently to help avoid delays.
Enness approached the case with multiple workstreams progressing concurrently, including lender selection, legal coordination, property documentation and verification of international income and identity requirements.
A specialist bridging lender with experience in complex, time-sensitive transactions was identified. Enness also coordinated with the existing lender to secure consent for the second charge facility while addressing the outstanding property and legal requirements.
A circa £2M second charge bridging loan was arranged against the property, providing the required liquidity within an accelerated timeframe. From initial application to drawdown, funds were released within approximately 10 working days.
This case demonstrates how specialist bridging finance can be used where timing, property documentation and international financial circumstances create additional lending considerations. Coordinating lender selection, legal requirements and supporting documentation can be particularly important where a transaction is subject to a defined completion deadline.
BRIDGING FINANCE IS SHORT-TERM BORROWING AND REQUIRES A CREDIBLE EXIT STRATEGY. DELAYS TO THE SALE OR REFINANCING OF PROPERTY MAY AFFECT THE EXIT AND OVERALL COST OF BORROWING.
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Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
