Blue Square Capital completes £2.58m bridging loan
Bespoke bridging lender, Blue Square Capital, has this week completed its largest loan of the year.
The ticket size of £2.58m was based on 70% of the open market value for a vacant detached house in the desirable Queens Park area of North West London.
The refinance loan allows the client sufficient time to explore the property’s planning potential before either selling or moving on to development.
Shahed Popat, Senior BDM, commented:
“This case was won and completed by having a deeper understanding of the borrower and them having confidence in us.
Meeting them at the property to gain insight into their background and future plans provided comfort on both sides, especially when encountering some obstacles along the way”.
Sarabjeet Bhoday, CEO, added:
“We have completed a series of ‘smaller’ loans in the first half of the year, so we’re delighted to balance this with one of this size.
We also have several £1m plus loans in the pipeline that are on target to complete before the end of summer”.