Cohort Capital completes £1m second charge bridge in East London

Cohort Capital has closed on a £1m bridging loan secured against 36 residential investment properties in Bromley-by-Bow with a combined value of £16m.

The borrowers approached Cohort looking for a quick equity release to have sufficient capital available to acquire two target sites that require a cash purchase at auction.

Cohort Capital provided a loan for 12 months at a loan-to-value (LTV) of 70%, completed in time to move forward with their subsequent purchase.

The borrowers said: “It was great to complete this with a lender that not only endeavoured to understand the complexities of what we needed but who also demonstrated flexibility and got comfortable with those details where others weren’t able to.

“We’re grateful to Cohort for this and wouldn’t hesitate to work with them again in the future.”

Georgie Crocker (pictured), relationship manager at Cohort Capital, added: “In a lending climate where many financial institutions are more cautious and hesitant to provide funding, Cohort Capital stands out as a reliable partner.

“We’re committed to establishing lasting relationships with our borrowers by getting behind the people coming to us and not just the numbers.

“With this case in particular we understood the importance of dependable funding in driving the borrower’s aspirations forward.

“We’re pleased to have played a part in them achieving this with our efficient loan process and we’re looking forward to working with them again in the future.”