Investec Bank (Channel Islands) has launched a Residential Investment Finance (Resfin) service. It ...
Investec Bank (Channel Islands) has launched a Residential Investment Finance (Resfin) service. It is also looking to launch an online stock and bond product, writes Joanne Frearson.
Resfin has been designed to provide investors with long-term capital growth and a revenue stream derived from rental income.
It is aimed at British expatriates who want to keep one foot on the UK property ladder and to overseas investors wishing to buy into a strong and stable economy.
Resfin will combine the lending resource and structuring skills of the bank with the property management expertise of its extensive contact base to provide a one-stop facility to source, rent, manage and dispose of residential property in prime London locations.
London-based property agents Savills are forecasting this year's prices to rise by 5% in general, with prime properties potentially yielding more.
Resfin will trade in apartments and houses from £250,000 to in excess of £5m.
The service is available for investors wishing to invest upwards of £100,000 with the bank providing loan facilities for the balance.
Resfin will also provide advice and multi-currency mortgage facilities structured to an individual's circumstances. It will ensure that the investment is self-financing and provides the possibility of releasing equity to create a portfolio of central London properties.
Clients can also build up a portfolio of properties within Resfin.
Meanwhile, Investec is looking at upgrading its website to do online transactions.
Mort Mirghavameddin, general manager of bank and trust at Guernsey-based Investec, said: 'We are currently in talks with system providers so clients can get statements online as well as purchase stocks and bonds from the same account.'
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