Capital Bridging Finance has provided a loan of £3.2m to purchase an office block which had prior approval to be converted to residential use.
The deal was introduced by Only Bridging.
Keith Aldridge (pictured), managing director of Capital Bridging, said: “Capital Bridging has an excellent working relationship with the introducing broker, Simon Juniper of Only Bridging and was more than happy to consider this application due to Simon’s track record with us. We took further comfort from the credibility of the borrower, who was forthcoming with all the required information and enabled us to make an informed decision.
“The short term sector is built on adaptability and relationships. This sometimes means one lender can get to a deal that others can’t. Capital is built on strong relationships, like the one we have with Simon, and taking a flexible approach. In this instance we liked the deal and were happy to help.”
The client, Dr Anwar Ansari, added: “My loan application was proceeding with another lender and after a successful valuation they declined my case due to their lending restrictions. My broker re-routed my application to Capital Bridging who he believed would consider my dilemma. Thankfully having provided them with the full details they were happy to advance the loan required and even better they were able to accept the valuation as the valuer’s were on their panel of surveyors.
“So what was turning into an issue for me was saved by Capital Bridging whose team, although diligent and professional were able to assist me by being flexible and understanding.”