Iken Loan Servicing

Iken Loan Servicing

Martley also benefits from a loan servicing and management platform known as IKEN. Established in 2016 to provide a fully integrated Loan Servicing Platform across the UK and Europe, Iken offers a best-in-class service that leverages the team’s extensive knowledge gained while acting as both Borrower and Lender, giving Iken a unique perspective on real estate debt.

Iken differentiates from its competitors by embedding itself into each facility at both the Loan and Asset level. It acts as the conduit between lender and borrower in its capacity as Facility Agent and Security Agent to seamlessly managing the lifecycle of the loan.

• Beginning during the execution stage, Iken will review and opine on all finance documents that concern the Facility and Security agents as well as assisting with Bank account opening where cash management facilities are required.
• Following funding of each loan Iken will assume the role of Relationship Manager and be the first point of contact for every Borrower. It will keep in frequent contact with each client on a regular basis to ensure deliverance of business plan. Consistent dialog between Iken and Borrower is key to Iken meeting its obligations to Lenders – only communicating with Borrowers once a quarter during reporting periods is the significant error that other servicers make.
• Throughout the life of each facility Iken will maintain detailed knowledge of each loan at the asset and tenant level while leveraging on the experienced Martley Capital Asset Management Team who have over 80 years of Real Estate experience between them. The MCG AM team can provide live market analysis on asset transactions (acquisitions and refinance), recent tenant letting activity (nationally) and advise on business plan implementation.
• Ahead of loan maturities Iken will manage the repayment strategy 12 months before the expiration date. Should repayment not be received in full Iken has the knowledge and experience to manage LPA Receivers and Administrators on behalf of the lender ensuring the highest level of return during the enforcement process.

Services We Provide

Pre-Drawdown:

• Commercial review of draft transaction documentation
• Conditions Precedent monitoring and completion
• Take control off assigned Bank accounts
• Execution of transaction documents

Loan Closing and Onboarding:

• Monitor conditions subsequent
• Abstract Facility Agreement (and any other key finance documents)
• Loan diary
• Loan Management set-up

Loan Forecasting and Monitoring:

• Borrower interest/principal billing
• Bank account monitoring and control
• Collection of quarterly IPD reporting and covenant compliance
• Collection of annual reporting such as financial accounts, business and capex plans etc
• IPD Payment Waterfalls and payments to Lenders
• Analysis of ongoing loan performance and credit quality, including business plans
• Analysis of consent requests and recommendation to Lender
• Tailored Lender reporting
• Cashflow and covenant forecasting

Loan Workout Solutions:

• Experience of working with impaired loans where the Borrower is no longer looking after the interest of the Lender
• Managing LPA Receivers and Administrators once appointed in defaulted loan situation
• Real Estate advisory
• Cashflow forecasting
• Exit strategy