Lending Query
Raising Private Bank mortgages on Prime London residential properties is something that the team at Silver Oak Capital has plenty of experience doing successfully. This particular lending query came from one of our professional advisors and they required us to find a new long term private banking relationship for their Egyptian Client.
Client Circumstances
The client was resident in Egypt with all of his income being derived from the Oil & Gas industry. This is generally classified as a high risk activity to most European private banks so this left us with limited options for the new loan. The client was also resident in a high risk country which posed another problem. The income was sufficient to support the loan but there was very limited liquidity (cash) in the background.
Problems to Solve
This case required us to use our regional banking knowledge in order to find a suitable new banking relationship for this client. We thought it better to approach a Middle-East based private bank which would be comfortable providing a large residential mortgage to a client with this type of background. The property was also held in an offshore trust structure, luckily the bank we approached had plenty of experience with these types of structures.
Solution Provided
The following large mortgage loan was provided for the client to support his refinancing needs.
£6.35 million GBP Loan
60% Loan to Value
1.50% + Bank Base Rate
5 year term
Interest Only
0.50% Bank Fee