£14.0m Structured Refinance Bridge backed by Dual Jurisdiction Residential Security
Key Highlights
Facility: £14.0m, 12-month open bridging loan with fully retained interest.
Purpose: Refinance of an existing facility pending either a traditional bank refinance or sale of the underlying asset.
Leverage: c.50% LTV across the combined security pool.
Share
We completed a £14.0 million refinancing bridge for an established borrower, secured against a completed ultra prime residential property in Spain, with additional security taken over a residential asset in the UK. The facility was structured to stabilise the capital position following an extended sale process, while preserving optionality around both refinance and disposal.
Transaction Context
The borrower had been progressing a sale of the Spanish property, including a fully evidenced offer, which ultimately did not complete following delays over the summer period. Rather than forcing a sub-optimal outcome, the facility was restructured into a new loan.
Outcome
The restructured facility allowed time for renewed sale discussions and continued engagement with a European bank refinance, without releasing surplus capital to the borrower. Risk was reduced through additional collateral, conservative leverage, and clearly defined amortisation expectations during the loan term.
What This Demonstrates
- Structured refinancing where market timing, not asset quality, is the constraint
- Use of additional collateral to stabilise legacy exposure
- Willingness to support borrowers through complex, real world execution risk