Specialist bridging lender Hilco Real Estate Finance (HREF) completed a development exit loan of £4.5m secured against several rural residential properties in Wimborne, Dorset.
The loan was delivered at a 75% loan-to-value (LTV).
The borrower faced issues with another lender, prompting HREF to step in to finalise the refinance.
The deal was introduced to HREF by Niche Financial Solutions and supported by advice from Eddisons and Clarion Solicitors.
Steve Allen, business development director at HREF, said: “It was great to work with Luke Baldwin at Niche Financial Solutions on this opportunity.
“Luke was highly proactive which was vital given the time constraints on this opportunity.
“The whole team at HREF worked very hard to get this deal done swiftly, as did Clarion Solicitors, led by Marie Pugh, and David Ponsford from Eddisons who provided the valuation.
“This loan brings a number of good quality homes to an area of high demand and gives time to the borrower to sell units over the next 12 months.”
