24 Sep 2014
REFINANCE FUNDING SOURCES FOR HNW CLIENTS WITH PREMIUM PROPETIES IN SPAIN AND FRANCE
These are available on properties in Spain and France:
• Minimum loan - € 1 million
• Minimum property value - € 1 million
• Maximum Loan to Value - 100% LTV – 50% LTV would be guaranteed by the property (mortgage) the additional 50% would be guaranteed by borrower’s financial assets deposited with and pledged with the lender (charge taken).
• Minimum Assets Under Management with the chosen lender: € 1,000,000 (pledged & cannot be withdrawn until the 60% of the loan is paid off)
• Interest rates from 2% margin over 12 month EURIBOR
• Interest only period: Up to 10 years
• Maximum 30 year term on an Interest and capital repayment basis. No age limit or restrictions.
• Property may be owned by an SPV based in the UK, France or Spain, but the beneficial owner must be the one establishing the banking relationship.
• Lender’s Arrangement Fee - 1%
• Appraisal estimated cost 0.15%
• Early redemption fee from 0,25 %
Above all the client must demonstrate that they have a private banking profile and be willing to develop their relationship with the bank.