Avamore Capital and Mesa Financial combine on £1.1m bridging loan
Avamore Capital and Mesa Financial have completed on a £1,148,768 purchase bridging loan as part of a longer-term plan to save the borrower time and money.
This is the first time Avamore and Mesa have collaborated on a case like this; it marks both the broker and the lender’s true commitment to remaining customer centric.
The highly experienced borrower is purchasing an Art Deco property in London which will later undergo a heavy refurbishment.
Avamore liaised closely with Mesa Financial and the borrower to understand his requirements and identified an opportunity to work together longer term whilst also helping the client to make savings.
The borrower had not yet applied for planning but Avamore, assessing the quality of the proposed scheme and considering the borrower’s background, structured a standard bridging loan with light conditions to provide confidence to the borrower that the lender would look to provide a development loan once planning has been granted.
Chris Treadwell, Broker at Mesa Financial commented:
“It was great to get this one away with Avamore. I know the team well so was sure they could be commercial, flexible and prudent in their approach.
We presented them a borrower with a strong track record and good A&L and, in return, they gave us a genuinely useful and relevant solution which our customer was keen to take up.
It was partnership on both sides and ultimately, I was confident that we could create something that worked for the developer.”
Andreas Yianni, pictured, Senior Relationship Manager, Avamore Capital commented:
“This is exactly what Avamore is about, we are committed to the journey and success of the borrowers we support.
Our team will always take time to find out the full picture and that means we can present options which speak to each developer’s specific requirements.
We pride ourselves on long term and meaningful relationships. We look forward to doing more with both Mesa Financial and the borrower.”