I am thrilled to announce that I, the Head of Property, Laurie Bough, successfully finalised a Bridging Loan Property Finance Deal worth £2.3 million with a quick turnaround of just three weeks, in partnership with Octane Capital.
This particular Bridging Loan was requested by a highly experienced developer/contractor based in the Midlands. They needed funding for a partially completed property in Peterborough, which is currently undergoing conversion from offices into 96 flats.
At the time of lending, there were approximately £1 million in outstanding build costs for the project.
Laurie Bough, Head of Property, shared his thoughts on the achievement, saying:
“I have worked with Octane for many years now and when presented with a difficult bridging case in an uncertain marketplace, I had the confidence it would deliver the funding on time.”
Josh Knight, Octane's sales and marketing director (pictured above), also expressed his satisfaction, stating:
“In a lending market characterised by nervousness and delayed decision-making, we continue to deliver on time and exactly when we said we would.
“Completing a loan of this complexity within such a short space of time underlines our hunger to lend.
Josh also extended his gratitude to our broker, Laurie Baugh of Approved Property Finance:
“Special thanks must go to our broker, Laurie Baugh of Approved Property Finance, who was extremely responsive throughout.”
If you're a developer/contractor interested in Bridge Finance, we invite you to explore our Quick Guide on Bridging Finance by clicking the link below. We address various questions such as: Can you obtain 100% Bridging Loans? What are the potential uses of a Bridging Loan? Is a Bridging Loan suitable for you? And why should you choose Approved Property Finance?
Alternatively, feel free to contact us at 01908 429888 or email Laurie directly at Laurie@approved-finance.co.uk.
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