The specialist bank provided a 75% interest-only loan on a semi-commercial asset that had been developed by the client.
The development included nine residential flats as well as four ground-floor offices.
The documents were reviewed by the specialist bank and due diligence was satisfied on the BVI entity and the applicant — a Dubai-based developer.
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“Like any transaction of this size you would expect some challenges, but [HTB’s] pragmatic and flexible approach made this come together for the customer to give them something that really suited their requirements,” said Lucy Barrett, managing director at Vantage Finance.
“The commitment and pace in the final few days to get this over the line was really impressive, and it’s nice to see a lender fighting for completion.”
Alex Searle, sales director of specialist mortgages at HTB (pictured above), added: “This transaction once again demonstrates HTB’s commitment to delivering specialist financial solutions for our customer’s requirements.
“Our team’s commercial expertise and experience with offshore lending means we can deliver tailored facilities to overseas clients and foreign nationals.”