Finance 4 Business and Amicus Property Finance (Amicus) have completed on 6 deals with an accumulated value close to £12m, in just three days. A combination of bridging and development finance, provides an excellent indication the short-term property finance market is in a very buoyant position.
Evidence of this is further enhanced by the geographical spread of these transactions. The largest of the deals was in Suffolk, not the traditional South East the market has come accustomed to. Other completions were in the Midlands, Shropshire, Kent and Essex.
One of the transactions is the first of three, with the other two to complete next month. This was a refinance deal, as the existing arrangement was not suitable for the development. Collating all the information and understanding the overall project, ensured that the deal could be structured correctly with a definitive finance plan.
The client met with Finance 4 Business & the Amicus teams, outlining all 3 phases. The client was delighted to see how broking should be conducted.
Other completions included additional financing for a large commercial development with a total GDV of £90m & final tranche for a £6m development in Chelmsford.
Russell Martin, pictured, Managing Director, Finance 4 Business said:
“Finance 4 Business have an excellent relationship with Amicus and understand what deals fit. Last month, we implemented a new process with Amicus, with a more detailed focus on how transactions are conducted, removing the hurdles that have slowed the market. It is great to see this coming to fruition and all the hard work paying off.”
Keith Aldridge, Managing Director, Amicus Property Finance said:
“This is another great example of effective collaboration of specialist broker and lender, maximising opportunities in a buoyant short-term lending market. The value a broker, such as Finance 4 Business can offer is especially clear. By supporting less experienced brokers to structure deals for Amicus, ensures a well packaged case with a quick and responsive service, providing the best all round solution for the end client.”