Private Clients Division
Non-Resident Mortgage Finance for Purchasing in Ireland:
- Irish investment properties (including commercial & residential units)
- Holiday homes
- Future homes for those individuals looking to relocate to Ireland.
Large loan applications for home or investment properties Experts in securing loans for Special Purpose Vehicles* and in assessing the need to implement a nominee trust structure for tax efficiency. Irish Mortgage Corporation works closely with a number of specialist legal and tax consultants who can advise our clients. The objective is making sure that the tax structure is optimal for all three elements of the property investment: Asset acquisition, asset management and exit. *Special Purpose Vehicles are limited companies set up specifically for the purchase and management of investment property assets either residential or commercial)
Commercial Real Estate Lending:
- Pillar banks, non-bank lenders, private money.
- Acquisition Finance & Asset Re-Financing
- Debt Settlement Finance
- Development Finance
- Bridging Finance
- Mezzanine Finance
Acquisition Finance & Asset Re-Financing Irish Mortgage Corporation arranges acquisition finance and asset re-financing for both residential and commercial property. Typically we specialise in lending from €1m to €10m on income producing property. We can source funding for SPV and non SPV lending. In addition we can arrange lending to self-managed pension fund investors.
Debt Settlement Finance
Irish Mortgage Corporation arranges settlement finance in Ireland. We specialise in negotiating and financing the restructuring of debt positions including commercial and residential property buy-back from property funds. Our range of funding sources cover all property types: retail, office, industrial and residential.
Pillar banks can be slow to assess and provide approval for settlement finance, often having a lower LTV based on portfolio income. Our alternative refinancing options are faster (if time is a factor) and typically less restrictive with higher LTV’s available.
Irish Mortgage Corporation has a range of development finance options for all stages of commercial and residential property development projects. Typical deals range in the €500k to €10m of lending. Depending on the proposal and security this may involve funding from pillar banks, non-bank lenders, family office money, or a combination as required.
Irish Mortgage Corporation can facilitate commercial bridging finance for residential and commercial development projects.
Commercial bridging loans are a temporary funding facility for a specific short-term period intended to provide funding until an exit strategy, such as asset sale or refinancing can be instigated.
For property developers bridging finance is often a useful funding alternative as it facilitates the purchase of a site or existing property in order to redevelop. Typically, pillar banks won’t provide financing at this early stage (assets that don’t produce income) however once the development is completed, and income established, the loan can be refinanced at more attractive rates over a longer term. Bridging finance loans typically go up to a maximum of 24 months, and can, depending on the deal specifics, fund the full purchase of the site and development costs covered. Loan interest rolled-up can also be implemented subject to LTV.
Irish Mortgage Corporation has a varied list of capital providers including mezzanine finance.
For property development, or occasionally settlement finance, mezzanine finance is often a useful tool to increase overall facility. Developers regularly use mezzanine finance to secure supplementary capital for development projects where a pillar bank will only provide a percentage of the total funds required to complete the development.
Mezzanine loans are often secured by a subordinate loan to the first mortgage lenders and can covert to an equity interest in the case of default. Due to the increased risk involved for the mezzanine lender they attract a higher interest rate & fees.
Rob Morton talks about the Private Clients Division and the service available.
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