Oblix Capital completes £825k bridging loan to keep residential development on track
London based, specialist property lender, Oblix Capital has completed a £825k residential bridging loan on a luxury apartment situated in Highgate, North London.
Oblix Capital were approached by the borrower following some extremely tight deadlines which another lender couldn’t fulfil.
The loan, which will be used to purchase the apartment was agreed on a 9 month term at an LTV of 75% – allowing time for the borrower to gain planning on the airspace of the property for an additional three residential flats.
Specialist broker, Arc & Co, who advised on the case got in touch with Oblix Capital as they required a lender who could expertly underwrite a bridging loan of this nature. The flexible and efficient approach taken was a great example of broker and lender working together to get the best outcome for a client.
Matthew Cleave, senior advisor at Arc & Co said:
“The efforts and expertise demonstrated by the team at Oblix Capital has been exceptional. The efficient service provided throughout the entire case made it so easy to work with them – a big thank you goes out to Josh and the risk team who placed the client at the very heart of everything, leaving them absolutely delighted with their facility!”
Andy Reid, sales director at Oblix Capital further added:
“Delivering service and expertise that goes above and beyond client expectation is something we pride ourselves on here at Oblix Capital. From our first interaction, Arc & Co have been a truly collaborative partner, presenting all information in a timely and proactive manner. This case was a great example of all parties bringing expertise and experience together.”