StreamBank has completed a bridging loan to support the sale of a commercial property in Birmingham’s Jewellery Quarter.
Introduced by Riana Azam, director at Independent Cashflow Solutions Ltd, and coordinated by Jamie Smith (pictured), business development manager (BDM) at StreamBank, the loan was secured against a commercial asset in a central location, valued at over £1m.
The facility enabled the borrower to redeem an existing loan, which required full repayment due to lease conditions linked to the client’s high street term facility.
Structured at 70% gross loan-to-value (LTV), the £720,000 loan provided the full net amount required for redemption.
StreamBank’s ability to lend up to 70% of open market value (OMV) on commercial assets continues to support property investors seeking responsive finance.
Smith said: “This deal is a perfect example of the type of bridging finance StreamBank is known for.
“Flexible, responsive, and aligned with the borrower’s end goal. In this case, the priority was to exit an existing facility without delay and allow time for a proper sales process in what is a strong local market.
“We’re pleased to support both the borrower and broker with a solution that works around the client’s wider financial position and commercial strategy.”
Azam added: “Working with StreamBank is refreshing due to the speed of execution and credit involvement.
“The whole team is accessible and available to discuss the structure and profile of the deal, explaining their commercial reasoning at every step of the transaction. A pleasure to deal with.”
