A flexible approach to lending
Fairbairn Private Bank can offer a variety
of bespoke lending solutions for clients. Finance can be secured
against a range of assets, including investment holdings and
property. Although around 70% of our lending is property related,
we can also lend against a client's portfolios and investments,
cash deposits with the bank or against guarantees from other
banks.
As we have well established relationships
with key service providers, such as surveyors and solicitors, we
are able to respond rapidly to each client's needs. In a recent
case, a city professional, who had just moved to the UK, was having
difficulty obtaining a satisfactory response from other
conventional lenders, but we were able to agree and implement an
appropriate facility so he moved into his UK residence shortly
after approaching us.
Our speed of response can also prove
advantageous when negotiating on a property. For example, one of
our introducer's clients found a house he was interested in but was
put under considerable pressure from the vendor to exchange
contracts before another interested buyer emerged. We obtained the
details on Tuesday, our relationship manager met with the client on
Wednesday, and the credit proposal was prepared and signed on
Thursday, enabling the valuation to go ahead on Friday at the same
time as the client completed all the documentation formalities. The
loan then drew down the following Tuesday, enabling our client to
complete the transaction within the timescale demanded.
Only recently, a similar transaction was
completed for a new high net worth client within similar
timescales, but on this occasion our relationship manager had to
arrange a day trip to Gibraltar in order to meet the client!
Lending may also be arranged to facilitate tax
planning. A UK resident, non-domiciled client, who required a
property as a UK base, needed to raise the maximum debt against the
property to reduce a potential tax liability. As a consequence, in
addition to a charge on the property, the bank was also able to
take a charge on his substantial investment portfolio held with us.
This was all done in line with the advice the client received from
his UK tax consultants.
In addition to property lending, clients may
also raise cash for a temporary period against any portfolios held
on our Focus
platform. Short-term facilities usually range from around six
months to one year and the minimum size of this type of arrangement
would be £100,000.
Lending facilities can be arranged in any
major currency although the security must be UK, Isle of Man or
Channel Island based assets. Additional margins of around 15% are
taken to cover currency risk.
To find out more about our bespoke lending
services, please contact your relationship manager directly or our
client services team on +44 (0) 1624 645000.