The short-term facility was provided at 70% LTV and was turned around in nine days from initial enquiry to completion.
The security property was a former bank which had been extended into four self-contained units.
The loan was required to raise capital to fund further acquisitions on the sites identified.
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“We understand that when borrowers need short term lending, they need it quickly,” said Alex Searle, sales director at HTB (pictured above).
“With our ring-fenced short-term lending team, we make sure that each step of the process is lined up to work as swiftly as possible: from enquiry to valuation; from underwriting to completion.”
The transaction was brokered by Boudicca Financial Solutions.