Downing Property Finance has secured a £1m exit bridge loan for a longstanding client within a three-week period.
Structured with 72% gross loan-to-value (LTV), the 12-month term loan was finalised within three weeks from the initial enquiry, including a 2.5-week period following Investment Committee approval.
The facility enabled the release of equity from the final three properties of a substantial 115-apartment development in Southwest London, assisting the developer in bolstering their cash flow and continuing operations without disruption.
Despite legal difficulties, Downing managed the complexities and ensured a smooth transaction for the client.
Richard Lamb, investment director at Downing, said: “Having come to us after being let down by legal delays with another lender, our team’s expertise ensured we swiftly met our client’s requirements, completing the loan within three weeks of the initial discussion.
“Our integrated process, which avoids separate origination and credit teams, results in more expedient approvals for our brokers and clients.
“We are committed to offering customised services and a direct, engaged approach.
“The robust relationship forged over successive projects and £72m of lending, is a testament to the mutual trust and professionalism that characterises Downing’s client relations.”
