Arc & Co. arranged a £2.5M exit bridge loan for a repeat client. This exit bridge loan was against 19 flat and 2 commercial units in Colchester.
Deal highlights:
£2.5M exit bridge loan
Originally the block was 26 flats and 2 commercial units.
LTV: 70% at 6.99% per annum
Loan was completed in 4.5 weeks
We were able to get the lender to use the previous valuer which meant the report was turned around in 4 days as they knew the property. Other lenders would not have accepted this.