Case Study: £1.46m commercial bridge at 0.75% per month
Fast bridging lender Funding 365 and award winning short term finance broker Adapt have yet again teamed up to provide a market leading bridging solution to a property professional.
Adapt’s client approached them to secure funding to allow them to develop the top 3 floors of their commercial property in Berkshire. With planning permission in place, Adapt brokered a development facility for the top 3 floors, leaving the ground floor to arrange.
Given that the ground floor was tenanted, the borrower was an experienced property professional and the exit plan was solid, Funding 365 was happy to offer their market leading 0.75% per month commercial interest rate at a 65% LTV.
Timings were critical given that the development facility and bridging loan had to complete on the same day.
Funding 365 Marketing Director, Laura Kendall, pictured, said:
“Adapt orchestrated this rather complicated deal involving different loans and lenders with their usual skill and good humour. We always have complete confidence that any deals that they package will complete with the minimum of fuss. It’s no wonder that they have a bulging awards cabinet and a book full of repeat clients.”
Adapt MD, Jordan McBriar commented:
“It was critical to complete both the development funding and commercial bridge on the same day and we knew we could rely on Funding 365 to deliver. Keeping a keen rate, the client was more than happy with the whole experience.”