Investec Private Bank has launched a financing service for British expatriates who are resident in Spain and seeking property development projects in the UK.
Targeted specifically at high-net-worth individuals living in Spain, the venture is said to follow previous demand from expats clients who wanted to buy property developments in the UK, but found because their assets were placed offshore – and therefore took time to access – they missed out on deals. As a result, Investec has teamed up with a Spanish bank to supply the financing vehicles where clients are seeking loans of between £500,000 and £10m. The Spanish bank takes responsibility for doing all of the due diligence on the clients and the source of funds, and informs Investec of the s...
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