Amicus and Adapt Finance combine for £5.2m loan
These two award winning businesses have concluded their biggest ever single loan together.
A £5.2m funding was completed on the purchase of a vacant office building that had permitted development rights for conversion into residential.
Ian McCarrell underwriter at Amicus commented;
“There was considerable pressure to complete this funding and the fact that we were able to do it in just 18 days from receipt of application was due to the outstanding collaboration we received from Tony Bellis, our valuer at Robert Sterling, solicitor Daniel Fireman of Howard Kennedy and of course Jordan McBriar and Steve Burns at Adapt Finance. Another encouraging aspect of the transaction was the client’s solicitor was very proactive, something that is rare in a borrowers solicitor.”
Jordan McBriar from Adapt was convinced that the success of the transaction was due, in no small part, to meeting Daniel and Tony at the recent Amicus inaugural stakeholder workshop.
“This is our biggest ever completed loan and I genuinely believe things went as smoothly as they did because Tony, Daniel and I were on the same debating table at the workshop event.
We debated ‘speed v accuracy’ and agreed that this balance could only be achieved if all parties were in direct personal contact from the start and this completion is a perfect example of how this works in practice…..all stakeholders working with one objective, a professional job completed within demanding time lines.”
With the demand growing for this type of funding lenders need to be confident that the exit terms are clear and confirmed.
Commenting Keith Aldridge Managing Director at Amicus said;
“Adapt are one of a growing number of our introducers who are able to satisfy our many questions that come with an application of this complexity. They make life a great deal easier for our underwriters by responding quickly and in detail and providing the confirmation of exit that is essential for mitigating our risk.