Avamore Capital exceeds expectation to close 8th deal with Pioneer Finance

By Bridging Loan Directory 11th September 2018

Avamore Capital has proven its strong commitment to relationship development by closing another deal with the London based brokerage Pioneer Finance. Avamore has worked with Neil Harris of Pioneer on a range of deals over the last 12 months which reflect the lender’s full product offering. This is the smallest and most recent transaction worth £570,020 and it falls into Avamore’s bespoke category. The complexities behind it led Avamore and the borrower to build a close working relationship.

Following this deal in Hampton Hill, Neil commented:

“This is the 8th deal which I have arranged with Avamore. They exceed my expectations each and every time. Their service is prompt and efficient and I am always comfortable referring my clients to Avamore, particularly because the entire credit team is highly experienced. Avamore consistently work hard to gain the best outcome for my clients; they are innovative in their approach and solutions.”

Addressing the complexities of the deal, particularly in relation to licenses and lease variations, took a 12-month period and Avamore delivered on its promise of service excellence. Avamore guided the borrower through the process and consistently maintained a strong working relationship to ensure that the deal was successfully closed.

Neil also commented on Avamore’s conduct:

“The most valuable attribute for me as a broker, is that Avamore understands the way they conduct business, reflects back onto me and my reputation. For this particular deal they were incredibly patient and thorough during the entire lending process. I look forward to working with Avamore once again.”

The borrower, Adam Saword was the lease holder of the property. In order for the transaction to go through successfully, Adam needed to obtain licences from the freeholder. The funds were required to convert an existing duplex flat on the High Street into 2 x 2-bedroom flats including a loft conversion and roof terrace. The properties are situated in a high value residential area in Hampton Hill and there are strong transport links directly into the city.

Given the number of parties involved in the transaction there were various components to the process. Avamore seamlessly assisted in coordinating the deal and proactively worked to find an agreeable outcome for all parties.

Adam Saword, the borrower commented:

“The level of service and dedication to get us to the start line of the scheme has been nothing short of amazing. I embarked on a project to obtain planning to convert my existing large 4 bedroom flat into 2x 2-bedroom apartments in Hampton Hill, a year later and I was ready to look for funding. Avamore stepped in to assist in the scheme…I seriously doubt I would have got to this point with other lenders in the market place. It would have just taken too much time to do this pre-completion. I look forward to the next stage and the working with them throughout the build.”

Zuhair Mirza, Principal of Avamore commented:

“It’s been great to work with Adam and Pioneer on this project. We are pleased that after a number of months, we were able to drive a successful completion. Our dedication to the deal is testament to our true commitment to service excellence. We will always tackle complexities head on and work to ensure a positive outcome for our borrower and broking partners. We look forward to seeing Adam’s project through to completion and have no doubt that both properties will have a successful sale.”