Tenn offers high-value bridging loans to borrowers that aren’t a key target group for other lenders due to the borrower’s background, requirements, or unusual elements in the loan. This might look like:
- A client that has an unusual background or specific requirements they need to meet through a loan e.g., borrowing via companies, trusts or other structures
- Deals that involve international properties cross-border loans or lending to non-UK residents
- A property that is unusual, have a non-standard or international ownership structure, or something is “wrong” with it
- An exit plan that is solid but ambitious or that would not appeal to lenders that can’t assess the bigger picture
- A great borrower or great asset but the loan just won’t fit rigid hard-fact-only lending criteria
How will Tenn help me deliver ‘complex’ bridging loans and will it be more challenging for me to offer my clients?
A complex bridging loan is usually more work for us as a lender than plain vanilla loans (which is why we price loans to order), and we have to (and are happy to) put in all the leg work upfront to get to a solution.
We will work closely with you to ensure we’ve got everything we need to complete the loan quickly. However, you are not looking at more convoluted application processes, stringent lending criteria, or adding to your workload: we are looking to make intelligent decisions and complete transactions fast which is in everyone’s interests. Delivering complex bridging often needs more planning and technical expertise than easier bridging finance deals, but that’s on us, not you.
The elements that make a complex bridging loan possible are generally the same as with any other type of bridging loan:
- Borrowers need to be in a good financial position, (we take a subjective approach to what is “good”)
- We need to verify the applicant’s situation before making a final lending decision – we are well versed in doing this quickly and efficiently.
- Tenn is ideally looking for a fantastic asset or a borrower with a great profile, reputation, and track record
- We need to understand the complete picture: why your client needs the loan, how they will exit, deploy the capital, etc. the more we know the better we can lend
Using bridging loans to create liquidity quickly
Tenn Capital offers liquidity finance to your clients that want to access capital quickly, using a residential property as security for a loan. We are open to how your client will deploy the loan capital.
Your clients can use liquidity finance to:
- Purchase UK or international property quickly without a mortgage
- Use a bridging loan to cover debt, unexpected expenses, repay a loan or mortgage before refinancing or a liquidity event
- Solve a short-term cash flow challenge
- Buy a business
- Invest in public markets
- Pursue a business or personal opportunity that offers good ROI
- And so on
Provided the numbers add up, there are very few limits on what Tenn will offer liquidity finance for. We can lend in various scenarios, and borrowers and their advisors approach us to find financing solutions for unique situations.
Offering international bridging finance to your clients
If you have clients that want to purchase property abroad quickly, we can help you deliver international bridging loans to your clients. We can help you deliver a financing solution to your client when:
- Your client wants to buy or release equity from a holiday home, investment property or prime residence outside the UK
- Your client wants to buy international property quickly or without a traditional mortgage product
- Your client is a foreign national or doesn’t live in the UK
- You need a lender that can lend to an international structure, or your client wants to use structures in the deal
- The property is owned by an entity An offshore entity owns the asset
Bridging loans involving structures
High-net-worth individuals will often use structures (SPVs, limited companies, trusts, and other ownership structures) to hold assets, streamline capital flows, and facilitate tax and estate planning. As they buy and sell property or raise capital, your clients and their advisers will want to utilise these structures, which adds complexity to the loan.
If your client wants to borrow via a structure or the deal involves entities in any capacity (i.e., the security is owned by a corporate entity) you and your client will always require a one-of-a-kind lending solution that we build from scratch: lending in these scenarios is never “off the shelf”. Specialists in this space, Tenn can complete bridging loans that involve entities just as quickly as “traditional” bridging deals.
No fixed lending criteria
Tenn works with brokers and introducers that serve high-net-worth individuals. Provided a client is suitable from an AML and compliance perspective, there are no fixed criteria for lending and no specifications your clients need to meet, no matter how complex their background, the scenario or the deal.
We will look at the broader merits of your client and their case rather than insisting your client meets fixed criteria that may not tell the whole story. We keep an open mind and are looking to make progressive lending decisions; as long as we see a fantastic asset and/or borrower, we can consider most circumstances, borrowers or assets – no matter how unusual.
How much can my client borrow?
We don’t believe that a borrower with a strong financial background and great security should be limited in what they can borrow, just because they have a ‘complex’ scenario. Provided the numbers add up and we are looking at a quality loan and a quality borrower, we can consider lending. We specialise in offering loans of between £1-10 million, but we can lend considerably more at pace if needed, provided we are presented with the right asset, the right borrower and the right deal.
Tenn is built to work with brokers, and we make working together seamless and easy: we are here to lend, and we make progressive and smart lending decisions. We’ll help however we can and initial conversations are always informal. We’re also happy to have a chat to share our ideas, insights or talk through a scenario – no strings attached.