Hampshire Trust Bank (HTB) has facilitated a £800k semi-commercial bridging loan which allows the borrower to raise capital for the completion of another project which overran.
This property consists of two residential flats and a small ground floor commercial space located on the South Coast.
The client was introduced by Steve Hills at London Finance Brokers who worked closely with HTB’s bridging division to seamlessly support the case through to completion.
Andrea Glasgow, sales director of specialist mortgages and bridging finance, Hampshire Trust Bank, commented:
“We have experienced a sustained uplift in semi-commercial business in recent times and this is an area in which bridging finance can provide a viable and flexible solution, especially when projects overrun – which can often be the case.
“By collaborating closely with our intermediary partners, we can help them to quickly identify the types of cases which can benefit from short-term finance. This was certainly evident when dealing with Steve at London Finance Brokers who provided us with all the details required to make an informed lending decision and to deliver a solution which enabled his client to complete their project with a responsible and robust exit strategy firmly in place.”