Arc & Co. has completed on a £12m bridge loan secured against commercial property with planning consent for residential in Greater London.
Key Points:
-Lender: Market Financial Solutions (MFS)
-Loan Amount: £12.3m
-Term Length: 12 months
-Loan-To-Value: 70%
Edward Horn-Smith at Arc & Co. commented; “The client required a funding solution to refinance existing debt and provide time to enable sale of the property. After a short tender process we sought MFS as the best suited counter party. They executed on the terms agreed from the offset.”
Imogen Williams, Regional Sales Manager from MFS stated: “Arc & Co discussed a proposition with us that had huge potential and a thorough briefing. After reviewing the information and agreeing the deal at credit, we then worked with Ed and the team to get it over the line as swiftly as possible. Elements of the deal changed within the term through no fault of anyone involved however, we decided to honour our all our agreements from the start of the transaction.
Richard D’Souza, Underwriting Manager from MFS added: “The logistics of the case can change during the process. When this happens, transparency and clear communication from both sides is essential to avoid confusion and ensure the process continues smoothly. We worked closely with Arc & Co on this case to ensure their client was kept informed and updated – as well as working quickly to ensure they received the funds they needed.”