Borrowing in exceptional circumstances

Many of our clients have found their existing banking relationships to be problematic when they are looking to borrow money, and where either the reason for borrowing or their personal financial situation is slightly unusual. Many banks have a highly codified approach for how they will lend money, which does not suit the needs of many successful individuals.

An example of this came to us recently when a client of ours was looking to refinance lending that was secured against a commercial property portfolio. They were getting increasingly frustrated with their current lender, who could not create the borrowing facilities they were looking for. The clients wanted to borrow just over £2m, with the loan spilt between interest-only and capital & interest over a 10 year term. They wanted to be able to reduce the interest-only element by asset disposals over the term of the borrowing. At the time they were looking to borrow these funds their business accounts from the previous year had not been finalised. Our client’s Private Banker, supported by our credit team, were happy to work with their accountants to obtain sufficient company information to allow borrowing to be approved. On review the lending was clearly perfectly reasonable, and the client was delighted when we were able to put the funds in place.

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