Hilco are pleased to offer an exciting opportunity to invest in or acquire a new bank applicant focussed on specialist UK real estate lending markets. The investment or acquisition will allow the successful party to become a new bank lender within a short time frame and at a significantly lower cost than would normally be required to create a new market entrant.
The Opportunity
Opportunity to invest in or acquire a new bank applicant focussed on specialist UK real estate lending markets.
Offering an accelerated pathway to full bank licence within 6-9 months
Ability to submit new regulatory documents providing current bank plan is retained for 6-9 months of operation post full licence
Existing strategy entails the bank offering retail deposit customers fixed and notice savings accounts while on the lending side it will offer bridging and buy to let products
Commercial mortgages and development finance loans are included in the plan from year 4, but could be accelerated
Investment to date £20m+ with the potential to benefit from a deferred tax asset of c.£4-5m from eligible losses
Overview
Bank to be funded through liquid £1.6tn UK retail deposit market with focus on fixed term products providing stable and efficient cost of funds
Initial investment requirement of £26m with opportunity to deploy £150m++ as the Bank grows
AWR license previously obtained, requirements to achieve full banking license have previously been completed
Excellent relationships with PRA and FCA
Cloud architecture combining best-of-breed SaaS with proprietary technology
Highly skilled management team with deep sector knowledge and extensive industry experience
Sale Process and Further Information
On receipt of a signed non-disclosure agreement (NDA) access will be provided to a virtual data room housing additional information. To access the NDA please click the link, sign and return via email to [email protected].
Terms and Conditions
No warranties, express or implied, are provided in relation to any information or statements made in connection to this opportunity. The information contained herein, and within the project dataroom, has not been verified by Hilco and prospective purchasers must undertake their own due diligence to satisfy themselves as to the accuracy of all such information and any statements made. Hilco’s full Terms and Conditions apply. Hilco acts as agent for the Vendor who offers for sale only such right, title and interest the Company possesses in the assets.
