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March 5, 2015

Bridging & Commercial Exclusive: LendInvest Completes £26m of Bridging in 1 Month

As well as enjoying a landmark month this year, real estate financier LendInvest completed a £700,000 bridging loan in 72 hours.
via Bridging & Commercial | 5  March 2015 | By Tom Belger 
The deal marks just one of the many successful deals completed by LendInvest at the start of 2015 as they informed B&C it completed £26 million in bridging finance in February alone.
LendInvest Sales and Marketing Director, John Prust, says that the winning combination of promoting highly competitive products that appeal to both the intermediary mortgage market and end customer as well as promoting recognised service excellence for all their supporters is key.

“This winning combination has helped us to excel this year,” said John.
“I am confident we will complete considerably more monthly business volumes as we go through the year.”

LendInvest managed to complete two cases this year within four days of the initial enquiry and both done through leading broker introducers.
The £700,000 deal was done through Brightstar after they were approached by an experienced hotel leisure operator who after acquiring four hotels required the funds to finish refurbishing the fourth and final hotel.
Director at Brightstar Kit Thompson said the debt was secured against a £1.6 million asset with some specific requirements for how the loan needed to be structured.

“On this particular deal, we approached and obtained terms from three lenders initially and then finally agreed terms with LendInvest based on not only their fantastic rates and fees, but primarily their flexible approach and being able to ‘take a view’ on a deal where time was of the essence,” said Kit.
“The surveyor was instructed and turned the report around within 48 hrs and the lawyers on both lender and client side were excellent in getting legal work concluded, to pay this deal out in 72 hrs from enquiry to completion.
“We cannot praise Christian Faes, Gary Clark and their team high enough for their superb work on this case. Bridging as it is meant to be.”

Brightstar CEO Robb Jupp also expressed his delight at the work done by LendInvest through this tweet below.

via Bridging & Commercial | 5  March 2015 | By Tom Belger