We have kicked off the new year with the completion of one of our largest cases to date – a £1.6m bridging loan for a London based property company.
A quick bridge was required to buy a Kensington property out of receivership, for a very wealthy international investor who required speed of service and flexible funding.
This case is particularly promising for Commercial Expert’s year ahead, having only expanded from our North East base into Leeds in early 2018, as it was our Leeds-based team member who introduced the case. James Gwynne, Appointed Representative, says:
“Assisting this client in the urgent refinance of one of their properties, approval was gained within 4 working hours of instruction and, despite many complications, we were in a position to draw funds less than 3 weeks later – and were heartily congratulated for doing so.”
In addition the case was managed through to completion by the newest recruit at Commercial Expert who worked closely with all involved parties, which has proven motivational for the whole team, showing our strength in recruitment and further evidencing that such large deals are well within Commercial Expert’s realm of expertise and experience.
The loan has been provided at a length of 6 months, with a 1.5% per month interest rate. For further information on Commercial Expert or bridging finance, please call the team on 01325 359800.