Bridging lender KSEYE has successfully facilitated a £3.5m loan for a semi-commercial property in Soho, London, in only four working days.
The loan was provided at 65% loan-to-value and a monthly rate of 1%. The swift completion is attributed to the expertise of KSEYE’s underwriting team and strong partnerships with valuers and solicitors.
Benjamin Margulies, who introduced the loan, said: “I appreciate the smooth and efficient process with the loan completing from start to finish within four days! The team is there for you, great to work with, and make sure you get the deal done so a company you can rely on. I will definitely be working with KSEYE on future deals.”
The acting solicitors from DKLM also detailed their involvement: “We received this case from KSEYE and swiftly started to provide our assistance as acting solicitors to complete the deal. We normally request undertaking from the borrower’s solicitors using credit-backed terms however, due to the urgency of this deal, Charles, head of the bridging team and partner used the indicative terms to request the undertaking.
“Charles was constantly in contact with the borrower’s solicitors over email and phone from start to end on this deal. In addition, whilst we were waiting for the valuation report Charles was working on the draft report to prevent any delays and speed up the process, enabling DKLM to meet the lender’s expectations as well as the Borrower’s and successfully completing the deal within four working days.”
Marcus Dussard, sales director at KSEYE, commented on the deal: “An important characteristic of bridging loans is that they can be completed quickly, and this deal showcases KSEYE’s ability to do just that.
“Throughout 2024 we are confident that our relationships with brokers will go from strength to strength, and that more brokers will see us as their go-to lender for their clients’ bridging needs.”
