Hey there. We’re Tenn Capital, and we offer short-term, real estate-backed lending solutions to your clients. It’s nice to meet you!
We can’t introduce ourselves without saying that we know we’re late to the party in a space that is already ultra-competitive. So, why are we here, and how are we different?
We believe that Tenn Capital has a significant role in an underserved area of the property finance market: We provide lending that covers high-value, complex and/or international real estate transactions.
Whether your clients need a million-pound-plus loan, liquidity for a complex or cross-border transaction, or you have a client that needs a loan at the 11th hour. We are here to deliver a solution. Tenn will help you add value to your clients, solve complex liquidity problems, and some more numbers to your bottom line.
Our Team
Every member of our team is a leading expert in their own right. But we’re about more than just professional experience. We are proactive, fast, and solution-driven: We want to lend money, make things happen, solve problems and work with you to find solutions to your clients’ needs.
Introduction to Our Executive Team:
Our CEO, Matt Watson, is formerly Managing Director of Sancus, Amberton Asset Management, and Brooks Macdonald in Guernsey. Matt has extensive experience scaling early-stage financial services businesses with trading, portfolio management, and credit background.
Nick Diligent has worked with Matt for the last six years, and he joins us as CFO. He has also worked at Investec and in the private equity sector with Northern Trust.
Our Head of Credit is Mike Starkey, who formerly ran Lloyds Bank International’s credit operations to the tune of £2bn, covering the UK and international markets.
Our Chairman is Nigel Le Quesne, CEO of JTC Group. JTC is a global trust and corporate service provider located in over 25 countries.
Islay Robinson and Hugh Wade-Jones of Enness Group have also come on board as our non-executive directors. While they will not be involved in the deals or lending decisions, both Islay and Hugh will use their incomparable knowledge of the global mortgage and real estate markets to provide strategic direction to the business as we grow Tenn.
Our team gives us coverage of every facet of the bridging finance market from fundraising to credit, structuring, KYC, and everything in between. As a result, you can be confident we will deliver accurate, confident, and fast real estate debt solutions.
How And Where We Lend
We need one of two things to be interested in lending:
1. A great asset: This is the security on loan. We like to lend against prime real estate in the UK, the Channel Islands, and desirable European cities.
2. A Great Borrower: We lend to respected, professional, and credible individuals who require short-term liquidity for a defined reason. We call this “a bridge to a liquidity event,” for example, a sale of a property, business, or other assets, a refinance, or another predictable event.
If one of these things is present in a bridging finance request, we will do our utmost to assist. If both elements are present? That makes things infinitely easier.
We are comfortable with the following factors:
- SPVs, limited companies, trusts, and other ownership structures
- Non-UK nationals / international borrowers
- Challenging circumstances
- Land and commercial property
- Complicated properties
- Non-real estate assets (in some circumstances)
- Multiple assets in different locations
- First and Second Charges
- Light refurbishment
- Cross jurisdiction, cross-asset, or cross structure
As a general guide to our lending criteria, we can offer terms in the following ranges:
- Loans from £1m with no upper limit.
- Up to 80% loan to value secured against a single property, potentially more with additional security.
- Interest rates are based on the risk and range from 0.5% per month to 1.5% per month.
- Loans from 3 months to 3 years.
- Serviced, retained, or rolled up interest as required.
We look at every case on its merits. We work alongside you and our professional advisers to find a way to lend as much as needed if there is a great borrower or asset in the transaction. We only offer unregulated loans.
Our Hard No’s
We have a pragmatic approach to lending. If you have a client in a tight spot, if things look tricky with a deal for a client, or you need to find a solution to a complicated financing problem: Call us. We’ll do everything we can to find a fast, workable solution that you can deliver to your client. But, of course, there are things which we don’t like and don’t want or can’t lend against. For us, these are condensed to the following:
- Development finance (unless the property is in Jersey or Guernsey).
- Planning risk against a single asset
- Where we cannot understand the deal
- An unacceptable client from AML perspective
Our Process
We don’t have hard rules or a complicated application process. To approach us for a loan, call us or send an email with a rough outline of what’s required. You don’t need to name your client or give lots of detail. We need to have a rough idea of what we are looking at.
We will then contact you to understand more about the circumstances of the deal, what the property is, and who the borrower is. Then we will ask for the paperwork we need to fulfil our obligations and make a solid lending decision. We will do this piece as quickly as possible: think days, not weeks.
If we think we can lend, we will tell you exactly what’s required and then invest unlimited time to deliver the solution to you and your client.
If we can’t help, we will tell you as fast as we can. We’ll also clarify why we can’t lend or what needs to change for us to do so. Either way, we will be transparent, clear, and to the point.
So, there we have it.
We are a pragmatic, specialist short-term bridging finance provider. Your clients won’t need to fit in specific boxes for us to borrow from us, and for the right deal, client or asset, we’ll do whatever we can to be able to lend.