Investec Private Bank has launched a new service allowing British ex-pats living in Spain to raise capital against their Spanish assets to f...

Investec Private Bank has launched a new service allowing British ex-pats living in Spain to raise capital against their Spanish assets to fund property development projects in the UK. Loans can be arranged for between £500,000 and £10 million. Penny Rendell-Harman of Investec Private Bank said: “Many British expats living in Spain can find it difficult to use their Spanish assets to raise capital for property projects in the UK due to potential complexities caused by the different legal and tax systems. Our new service helps avoid this and provides clients with a range of finance options that are tailored to their individual needs.” Funding is available for refurbishments, conversions and new build and may be lent against valuation, rather than just the purchase price.