Alastair Carmichael
Head of Real Estate Lending
20+ years' experience
Real estate lending, credit underwriting and structured property finance.
20+ years in real estate finance
Property Lending
Flexible Capital to Release Equity Against Real Estate Assets
Liquidity for companies and professional property investors, provided from a principal, not a committee.
Lending Philosophy
Our Approach to Secured Lending
20+
Years each
Own
Balance sheet
UK & EU
Prime property
Disciplined, asset-backed property lending focused on flexible capital using our balance sheet.
Led by James Caan CBE and Alastair Carmichael (20+ years each), HB Real Estate Lending writes bespoke unregulated loans against prime UK and European property, with swift underwriting and access to the decision makers.
Brokers & Advisors: Capital for Your ClientsWhat we do
Certainty of Funding, From Principal Capital
We provide £2m–£10m bridging, development-exit and structured loans against prime UK and European property, underwritten in-house against our own balance sheet.
Borrowers come to us because capital comes from a principal, not a committee. There are no layered approvals or complicated processes. You speak to the people who decide, and our capital moves at the pace the deal needs.
Who this is for: Brokers and borrowers needing short-term secured finance on a deadline.
01
Private capital, deployed quickly
We lend our own money, so a term sheet is a decision, not an application. Capital moves in days, not months.
02
Speed when it matters
In-house underwriting and direct access to the decision makers: quick answers, fast completion, and an honest no when a deal does not work.
03
Structures that fit the asset
Bridging, refinancing, capital raising and development exit, shaped around the security and the exit rather than a rate card.
04
Two decades of real estate
Led by James Caan CBE and Alastair Carmichael, with 20+ years each in property investment and finance.
What We Lend Against
Commercial, Residential and Hospitality
Commercial assets, residential property and hospitality across the UK and select European markets. If the asset is sound and the exit is credible, we will look at it.
01Commercial
02Residential
03HospitalityRefinancing and Capital Raising Against Owned Assets
Many borrowers are not buying anything. They own the asset and their capital is tied up in it. We refinance against that asset so the capital can be put back to work: you keep the asset, we lend against it.
That capital can fund an acquisition, a development or a wider business plan while the asset keeps working, and because it is our own money the facility moves quickly.
Discuss a refinanceOur People
Our Lending Team
Choose a team to view
Our Lending Team
Graham Emmett
Real Estate Lending Expert
40+ years' experience
Real estate lending across UK and European markets, including origination, credit structuring and workout experience through multiple property cycles.
40+ years across UK and European real estate markets
Chung Hau
General Counsel
20+ years' experience
Corporate law, transactional documentation and portfolio legal support.
20+ years as HB's General Counsel
How to start
I need to release equity from my real estate asset
For brokers, banks and borrowers seeking a bespoke facility against prime UK or European property.
£2m–£10m
Facility size
Swift
Underwriting
Direct
Decision makers
Our Process
- 01
Lending Opportunity Received
A broker, bank or borrower introduces a secured opportunity against prime UK or European property.
- 02
Underwriting & Due Diligence
Valuation, borrower, exit and legal structure assessed in house.
- 03
Terms Issued & Structuring
Bespoke terms with the security package: first charge, guarantees and fiduciary structures.
- 04
Capital Deployed
Funds drawn against a first-ranking legal charge, interest terms agreed up front.
- 05
Monitoring & Repayment
Monitored through to exit: sale, refinance or an agreed alternative.
Structured for Downside Protection
Recent Transactions
Saint-Tropez, France
- Term:
- 18 months
- Use of funds:
- Bond secured against two prime properties
- Exit:
- Refinance or sale of the assets
South of France
- Term:
- 12 months (minimum 6-month interest payment)
- Use of funds:
- Refinance, refurbishment, and completion of a UK development
- Exit:
- Sale of the UK development or refinance
Portland Place, London
- Term:
- 18 months (12-month minimum interest payment)
- Use of funds:
- Capital raising and bridge to sale
- Exit:
- Sale of the asset
Cap Ferret
- Term:
- 12 months (minimum 9-month interest period)
- Use of funds:
- Refinance for an experienced property owner
- Exit:
- Sale of the asset
The Lewis Building, Birmingham
- Term:
- 3-year mezzanine loan note
- Use of funds:
- Acquisition of a 254,000 sq ft Grade A office estate
- Exit:
- Refinance or sale following active asset management
Paris, France
- Term:
- 12 months
- Use of funds:
- Bridging facility secured against a Paris commercial asset (€1.53m facility, €2.28m valuation, 67% LTV)
- Exit:
- Sale of the asset
Typical Lending Parameters
£2m–£10m
01
Loan Size
£2m – £10m / €2.5m – €12m
02
Loan Type
Senior, mezzanine, and bridging
03
Asset Type
Office buildings, residential, commercial and hospitality real estate
04
Use of Funds
Acquisition, refinance, bridging, capital raising against owned assets, renovation, development support
05
Borrowers
Loans are made to companies and professional property investors only, and never secured on a borrower's home
06
Term
Up to 3 years
07
Max LTV
Typically up to 75% gross loan
08
Geography
UK and select European prime locations
09
Structure
Flexible and tailored to each project
Industry Breakfast Sessions
We host breakfast sessions bringing developers, lenders, brokers and advisers together.
Deliberately small and candid: live market conditions, deal structures and funding appetite, discussed with people doing the same work.
Bringing together the people shaping the real estate lending market.
Candid, practical conversations over breakfast.
Roundtable Coverage
How the trade press reported our bridging and real estate roundtables.
Bridging & Commercial
Equity release, European markets and the 'stuck in the middle' lender
Broker insights on cross-border equity release and where lenders are being squeezed.
Bridging & Commercial
“Capital is abundant, trust is scarce”
Why certainty of funding and lender credibility now matter more than headline pricing.
Alastair Carmichael
Real Estate Lending
Discuss Current Lending Opportunities
Speak directly with Alastair Carmichael and the real estate lending team.
Important Information
This page is for information only and is not an offer, inducement or invitation to lend, borrow or invest. Lending involves risk, including the risk of losing some or all of the capital deployed. Security, loan-to-value limits and structuring are intended to mitigate risk but do not remove it; property values can fall and borrowers may default. Past transactions are illustrative only and are not a guide to future outcomes. Facilities are unregulated and are made to companies and professional property investors only, and are never secured on a borrower's home. Please take independent advice before proceeding.
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