Lending to BVI Borrower on Holiday Let Portfolio
We recently completed a £2,900,000 facility to a BVI borrower ultimately owned by a non-UK national who lives overseas. The security assets comprised holiday lets located in a remote part of Cornwall and a development property in Bath. The borrower wanted to refinance a loan which was about to expire pending the sale of some assets in eastern Europe.
The deal was introduced by Rob Heywood of Sirius Private Finance who commented, “This deal had to be completed quickly and came with its fair share of challenges from a complex borrower to remote location of the main security assets. However, Ortus pulled out all the stops and delivered when it mattered.”
This was a fast-moving deal which presented new and interesting challenges every day. However, we are proud to have a wide range of in-house expertise and it was great to provide a solution.