Master broker First 4 Bridging has completed a £2.5m loan for a client of Adapt Finance in three working days.
The investment opportunity, a purchase of a retail outlet in London, needed funds that could be delivered very quickly. Working closely together, First 4 Bridging and Adapt Finance found a lender — Together — that would provide the finance.
First 4 Bridging first started working on the case with Adapt Finance on Thursday afternoon and ensured the funds were with Adapt Finance’s client by Tuesday lunchtime.
The case involved three London properties — an office building, residential HMO and three-unit block of flats — acting as the security for the £2.5m loan.
Jordan McBriar, director of Adapt Finance, said: “First 4 Bridging’s contacts and forensic knowledge of the short-term lenders helped get what was a complex and large loan over the line in an incredibly short time period. It was a text-book example of how a master broker can add value for a broker like ourselves.”
“Speed of turnaround is what bridging finance is all about,” said Lorenzo Satchell, director of First 4 Bridging. “Adapt Finance were great and gave us everything we needed when we needed it and, knowing that this was a case that Together would immediately go for, it went through without a hitch.”
Marc Goldberg, commercial board director at Together, added: “First 4 Bridging have a solid understanding of our product offering and supplied us with all the information we needed to complete this deal in just three days.
“Our common sense approach to lending allows us to work with our partners to provide fast and flexible finance and this is a great example of that in practice.”