The product can be secured on property located in Spain, France, Monaco, Switzerland, Germany and Austria, but must be owned by SPVs.

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Loans will go up to 75% LTV gross for a maximum of 24 months and range from €750,000 (approximately £625,000) to €5m (approximately £4.2m). 

“We are delighted to be able to launch this innovative product, which has been created following strong inbound demand from borrowers and their advisers,” said Sean Adams, chief commercial officer at Interbridge. 

“European banks have not been keen on cross-border residential lending since the GFC and, of course, Brexit has created financing challenges for second homeowners. 

“Many European citizens are mobile and have cross-border lifestyles, regardless of age. 

“We all know that the pandemic has accelerated the desire to own a chalet in the Alps or a place in the sun.  

“It has been a common frustration of borrowers that the financing products they have become used to in their home markets have not been available in transnational property transactions. 

“We sincerely believe that the market has been waiting for our products.”

Sven Peter, CEO at Interbridge, added: “The European cross-border residential financing markets are rigid and stalling. 

“At Interbridge, we believe that this is wrong and contrary to the zeitgeist of our people. 

“Our product is a much needed means of opening avenues to liquidity through the leveraging of otherwise stagnant assets, given the limited opportunities presented by the market.  

“We want to become finance enablers and step in where vanilla financing providers do not want to support their customers."