Andy Reid

Oblix completes £825,000 bridging loan to support residential scheme




Specialist lender Oblix Capital has completed an £825,000 residential bridge on a luxury apartment in Highgate, north London.


The borrower approached Oblix with some extremely tight deadlines, which another lender couldn’t meet.

The funding – which will be used to purchase the apartment – was agreed on a nine-month term at 75% LTV, which allowed the borrower time to obtain planning permission on the airspace of the property for an additional three residential flats.

Specialist broker Arc & Co, who advised on the case, contacted Oblix as it required a lender who could underwrite a bridging loan of this nature.

Matthew Cleave, senior adviser at Arc & Co, said that the efforts and expertise demonstrated by the team at Oblix Capital was exceptional.

“The efficient service provided throughout the entire case made it so easy to work with them – a big thank you goes out to … 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 (pictured above), 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 [has] 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.”

 

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