Whitehall Capital completes £2.3m bridging loan in eight days
Specialist bridge financing fund, Whitehall Capital Management Limited, confirmed today that it had completed a £2.3m loan in refinancing a recently refurbished £3.1m eight-unit residential development scheme in Peckham – a densely populated residential suburb within the London Borough of Southwark.
The property, originally two terraced houses, in a pleasant tree lined terrace of Victorian villas, has been developed as eight flats.
Whitehall processed the loan from start to finish in just eight days, the completion underlining the speed at which its bijou and deeply experienced team can move in delivering short term, flexible and bespoke property funding solutions to Residential and Commercial borrowers throughout the UK.
Commenting on the completion, Whitehall Capital Analyst, Christos Kitromilides said:
“This is quite an achievement given the challenges we face at this time.
We are of course 100% self-funded here at Whitehall, leveraging a well-established network of HNW individuals, family offices, hedge funds, and as required, the wider market.
We raised £5m of new money from our investors during Q1, adding further liquidity through a £10m bank facility, so we are funded to move at pace and can reduce transaction turnover times significantly.
That gives us a real market advantage and has contributed significantly to the widely coveted reputation we enjoy for a quick turnaround, our clear, open, honest communication throughout the loan process and our ability to get projects funded when many of our peers decline to lend.
This is a very difficult time for many businesses, and the consensus is for things to become worse before they get better, but the bridge lending market has shown remarkable resilience.
Our pipeline remains strong and encouraging. Our focus on high-quality borrowers and low LTV loans is proving to be a recipe for success in the current economic environment – some excellent opportunities being presented to us and all loans being serviced at this time.”
The Peckham loan comes hot on the heels of a large loan on a prestigious business park in the North East. Whilst the Fund remains focused on properties in London, the South East, East and Midlands regions.
Whitehall Capital is looking to become the bridge lender of choice and is committed to extending its existing geographical footprint.