TFG Capital demonstrates its commitment with £1million bridging loan

By David Craik 14th September 2021

TFG Capital has used its ‘sensible and flexible’ lending expertise to complete a bridging facility for just under £1,000,000 to assist an Asian based developer with a shortfall on a London commercial property.

Equitable charges were placed over 3 long leasehold flats and a large commercial unit comprising 9,500 square feet already owned by the applicants limited company based in Guernsey with the main shareholder residing in Hong Kong.

This then gave the client of broker LDNfinance the financial breathing room to buy the separate single commercial property for £9,780,000.

Andy Reid, Sales Director at TFG Capital, said dealing with clients based in Guernsey and Asia was a challenge but added that it could be a healthy sign for the industry in that it may mean foreign investors are returning post-Covid.

Another main challenge stemmed from incorporating cladding risks within the BTL portfolio in the loan.

“On this deal we really showed our pragmatic, ‘Does it make sense?’ attitude to lending,” Reid said.

He also praised the ‘flexibility’ shown by both TFG and LDN’s teams to ‘shape’ the deal.

“The LDNfinance team are a fantastic example of a ‘work with’ brokerage who completely understand the merits and benefits of a strong relationship with TFG Capital,” Reid added.

“As a firm that transacts repeat business, they have become more than aware of our specialism in the bridging arena.

This particular case was not without its quirks and challenges, but TFG rose above these to ensure a suitable and appropriate outcome for all concerned.”

Chris Oatway, Owner and Director at London based LDNfinance, said:

“TFG Capital were 100% committed to the deal from the moment terms were issued. This provided a huge amount of confidence to us as a broker and to the client that funding would be available when required.

As various challenges appeared during the process TFG Capital remained pragmatic in their approach and forward-thinking manner and were highly communicative throughout.

TFG are a pleasure to work with and we look forward to dealing with them on our next case.”

If you’re after a quick and easy way to work out how much bridging finance is available to you, try our bridging loan calculator.

David Craik

David Craik is a freelance journalist writing news, feature articles, blogs and guides for national newspapers and magazines. His main areas of interest include finance, property and investments.