Arc and Co

Arc & Co secures regulated bridge for US citizen with no historic proof of income

Arc & Co has facilitated the completion of a £4.4m regulated bridging loan for a two-year term for a client with no historic proof of income.

The specialist asset finance advisory company’s private clients team secured the borrower – a US citizen – the loan at 65% LTV for her London residential home valued at £6.75m.

The loan was secured at a rate of 4.5% per annum all in (0.375% per month) at fees of 1% in and 1% out, with all fees and interest to be rolled up for the period.

In addition, there will be no early redemption charges.

‘‘Our client was extremely happy with the result,” said Daire Dowling, managing director at Arc & Co Private Clients (pictured above).

“She had been told being a US citizen would cause her significant problems in the private banking world in Europe.” 

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