A North of England property investor required an urgent bridge loan to refinance a historic banking relationship, prior to a longer-term portfolio financing being arranged via a broker. The security comprised in excess of 70 properties located across the North-East, including offices, shops, residential, land and hotel properties.
The challenge was dealing with 70+ individual properties. Following a meeting with the borrower and broker to fully understand the proposal, ABC avoided delay by accepting a refresh of the valuation of the commercial portfolio and working closely with its valuer for the residential assets. By utilising a mixture of title Insurance and standard legal due diligence, a tight timeframe was adhered to enabling the loan to complete.
Throughout the process, close collaboration with the broker and a flexible attitude from our Underwriting Team smoothed the passage and cleared the obstacles. Commenting after the drawdown, Robert Crowter Jones of Saranac Partners said “ABC was able to accommodate valuers who knew the assets and could act quickly, and the underwriting team demonstrated a practical approach to the diligence process”