Bridging loan to purchase home abroad for consultant with offshore earnings


I was recently referred a client who had used Enness in the past and was returning because of our excellent reputation for quick and effective bridging finance. He was looking to secure a quick capital raise to purchase a home abroad for a family member.

My client was a family man in his forties who works as a consultant, with offshore earnings. My client was hoping to use his London property as security for the new loan; the preexisting property was valued at £1.4million. This was complicated because of the ownership structure of the house. The house was in the name of an Isle of Man company, which was owned by a Gibraltarian trust.

The family member for whom my client was purchasing the property was the settlor of this trust—and to complicate matters further, another family member was living in the London property. This created regulatory issues with the capital raise.


This case was tricky, and I approach several lenders who were reluctant to proceed. However, I persisted with this case and was eventually able to use my excellent relationship with a particular lender to convince them to take up the case. This lender is a regulated bridging lender, which was ideal for the solution I had in mind.

I knew I would need to use a bridging loan to secure the finance quickly. I therefore took out a bridging loan over his London property—a gross loan of £785,000 at 1.05%, retained for a period of six months. As the bridging loan was a short term solution, I proposed an exit strategy of remortgaging on to a buy to let mortgage from a private bank.

This meant that my client had the funds free to purchase the new property for his family member, which was a fantastic result for him.

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