KIS Finance completes £2.2m bridging loan with UTB
The loan was a development exit facility, secured against 6 newbuild townhouses in London.
The new loan completed within a couple of days of the client’s existing facility coming to an end.
This saved them substantial additional costs as they would have been charged penalty fees and additional interest charges had they gone over term.
This £2.2 million completion makes it 3 months in a row where KIS Finance has completed bridging loans with United Trust Bank that exceed £1 million.
The previous two facilities were for £1.5 million and £1.45 million.
One was used to purchase an unusual property before selling an existing property, and the other is being invested back into the property to make substantial improvements.
Holly Andrews, managing director, KIS Finance said:
“In addition to having extremely competitive interest rates and set up costs, UTB like funding the larger deals.
We also like arranging loan facilities through lenders like UTB, who respect their introducers, as they don’t try to cross sell or poach our clients afterwards.”