Sirius

Sirius completes £12m deal in 11 days




Sirius Property Finance has completed a £12m loan — secured against a complex portfolio — in 11 working days.

The bespoke finance broker had to work quickly to refinance a loan that had passed its maturity date and begun incurring penalties.

Sirius worked with Castle Trust to make sure the case was approved and processed without delay – saving the borrower from further costs and difficulties.

Nicholas Christofi, co-founder at Sirius Property Finance (pictured above), said: “What distinguishes Sirius over other finance brokers is our ability to balance the needs of the lender and the borrower to create a deal that works for everyone, and this is an excellent example of what can be achieved when you have the expertise and relationships to take this approach.

“We were left in a very difficult situation on this case, but we didn’t bemoan the circumstances or point fingers of blame.

“Instead, we rolled up our sleeves, spoke to our contacts and presented a case that was approved by Castle Trust in just a couple of days and completed in less than two weeks.

“There are not many lenders able to agree and process such a large and complex case in such a short amount of time.”

Marcus Dussard, sales director at Castle Trust, commented: “We’ve recently noticed a trend in the industry of lenders pulling back from deals they have already agreed in principle, particularly on larger or more complex loans, and it is causing brokers extreme frustration.

“Fortunately, the team at Sirius are masters in this market, so when they needed a rapid solution, they knew to speak to Castle Trust.

“We don’t just claim to be able to specialise in large loans, we prove we can do it time and time again, with a flat decision-making structure and a daily focus on progressing complex cases.”

Paul Debney, an adviser at Sirius, who worked on the case, added: “This case is an excellent example of how a combination of determination, expertise and great lender relationships can make the seemingly impossible a reality.

“It was an excellent team effort that resulted in a great outcome for our client.”

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