£1.5 Million Bridge on St Paul’s Apartment
We recently assisted a first time client in supporting their business whilst waiting for funds to be released from a business transaction.
The security for the £1.5m equitable loan was a £4.3m property located in the desirable St Paul’s area. The loan was offered with 6 month terms and 3 months interest retained. There was also the option for the interest to not be retained. There was a clear exit strategy in place with the client’s business due to receive money currently held in a business transaction within the 6 month term. The loan to value was 35%.
Although it was a new relationship with the borrower coupled with a flexible valuer and great lawyers we were able to achieve a quick hassle free completion in 8 days.