We recently assisted a returning client in supporting their business whilst waiting for funds to be released from a business transaction.
The security for the £1m equitable loan was a £5.3m property located in the desirable Roehampton area. The loan was offered with 9 month terms and 3 months interest 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 9 month term. The loan to value was 57%.
A strong existing relationship with the borrower coupled with a flexible valuer and great lawyers we were able to achieve a quick hassle free completion in 3 days.
“The borrower contacted us directly looking to raise funds on an asset well known to us. With a proactive, highly regarded borrower we managed to complete in an industry leading 3 days” said Century Capital CEO Paul Munford.