Century Capital have completed a £1M loan in a record 2 working days.
Our client was looking for finance to aid the completion of building works on a separate property and complete an option agreement for another asset. The client owned a 15,000 square foot estate in West Sussex, which was valued at £9M.
Lending on the value of this estate meant we were able to loan the client £1M secured by an equitable charge, in 3 instalments, at 59% LTV over a 6 month term. The exit strategy being the sale of security, which was due within 3 months.
In this case, speed was of paramount importance to the client as the opportunity to purchase the option agreement had an extremely limited time window. Despite a complex offshore ownership structure, we were able to complete this transaction in a record 2 working days.
‘We pride ourselves on our fast-track completions, and this case in particular really showcases how we use our unrivalled product knowledge to make rapid decisions and secure completions for our clients’ comments Alastair Caie, Century’s Head of Lending.