StreamBank launches HNW structured finance
StreamBank has launched a high-net-worth (HNW) structured finance proposition, offering loans of up to £5m with terms of up to 60 months.
The specialist lender’s latest proposition supports borrowers who require more time for repayments than traditional bridging terms.
Richard Armstrong (pictured), chief commercial officer at StreamBank, commented: “The reality is that high-value property and business transactions don’t always adhere to a 12-month timeline. A borrower can have a perfectly credible exit strategy, but achieving the right commercial outcome can sometimes take longer than originally anticipated.”
The HNW structured finance proposition accommodates repayment strategies linked to the sale of higher-value properties, business disposals, share realisations and development completions.
Loans are available from £350,000 to £5m, with facilities above £3m subject to additional approval. Terms range from 12 to 60 months, with a maximum loan to value (LTV) of 65%, subject to lower limits for larger facilities.
StreamBank said the product was developed to address the challenges of completing property sales and other asset disposals within traditional bridging finance timescales.
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It is available on residential properties in England, Wales and Scotland, and can be used for purchases, refinancing and evidenced capital-raising purposes.
The proposition offers fully rolled-up, part-serviced and fully serviced interest options, giving borrowers flexibility to structure repayments as per available cash flow.
Eligibility depends on at least one borrower having either an annual net income of £300,000 or more, or net assets of at least £3m, excluding their main residence.
Armstrong added: “A property may be attracting genuine interest, or a business or asset sale may be progressing well, but transactions of this nature are often complex and completion dates can move.”
He continued: “The important thing for us is that the term of the finance reflects a realistic route to repayment, rather than assuming every credible exit can or should be delivered within 12 months.”
