The borrower required the funds to complete the purchase of a residential property abroad in a short amount of time.
The facility — agreed at 60% LTV over a 12-month loan — was secured against an international property.
Working with the corporate service provider administering the borrower’s entities, Tenn Capital was able to provide the loan to meet the client’s deadline.
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Matt Watson, CEO at Tenn Capital (pictured above), said: “Even though the deal revolved around an asset outside the UK and the borrower was a corporate entity, we were able to deliver a solution in just 15 days.
“We worked closely alongside the borrower’s advisers to offer a comprehensive lending solution that met all the individual’s requirements.
“We have always wanted to make it easier for owners of non-UK based real estate to borrow against their international property, and this deal underlines the possibilities Tenn offers to do so.”
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