High-net-worth individuals and families are used to moving at a fast pace. They live in a world where opportunities come and go exceptionally quickly, and what’s on the table today is gone tomorrow. They’re usually very active, and they tend to be involved in many different projects, dividing time, resources, and headspace between multiple priorities.
In this context, it’s easy to see why HNWI want things to move quickly, They want to get deals locked in fast so they can tick it off the to-do list and move on to the next project/venture/opportunity. All this means your clients will usually be comfortable evaluating situations and making decisions quickly. As a trusted advisor working alongside them, you will too.
When it comes to purchasing real estate, getting a home loan can be a long, drawn-out process. If your clients have decided to move forward with a sale, going through a lengthy loan application process, answering lender’s questions, and waiting for a decision can feel torturously slow and frustrating. Until the loan is approved and the deal is completed, the transaction can’t be tied up, draining time, resources and, often, your client’s patience.
Surely there’s a faster way to help your clients’ complete property purchases? There is.
Bridging Finance to Complete Purchases Quickly
Bridging finance provides an often-ideal alternative to traditional home loans and can be completed in as little as one to two weeks. For the right deal or borrower, Tenn can complete the whole transaction in just a few days. Bridging finance can knock weeks or months off the time it takes to complete a property transaction through a traditional home loan.
Your client can use their property (usually the property they plan to buy, but we can also consider existing property in their portfolio) as security for the bridging loan. To pay back the bridging loan, your clients can either pay back the loan through a liquidity event, sell the property to pay back the loan or refinance. We lend for a few months or up to a maximum of 2 years.
If Your Client is Looking to Complete a Property Purchase Quickly, Tenn:
- Will make lending decisions quickly – often in just 24 hours when we have all the information we need
- Can make funds available fast – think 5-14 days if required
- Can lend even if your client has complex ownership structures, i.e., trusts, offshore entities, etc.
- Has no constraints on who we lend to. As long as your client is sound from a legal and AML perspective, we can lend regardless of nationality, country of residence, etc.
- Can lend significant amounts. What we can offer will depend on your client, the security they put forward, and the property they wish to buy. However, we are very comfortable lending £3-5 million and more for the right borrower or against an exceptional property.
Our team have investment and corporate backgrounds, and we are used to moving at the same speed your clients do. We understand their motivations – and yours – for completing a property purchase quickly. When the right information is available to us, we can make a quick lending decision, and we will work tirelessly to help you and your client draw down funds as fast as possible.
If you have a client who wants to complete a property purchase quickly, get in touch. We can explain more about how bridging finance works and how your clients may be able to benefit from this specialist finance in the place of a traditional home loan.