Pro-footballer money

Bridging lender provides footballer with £2.2m loan




Century Capital has announced a hat-trick of deals completed in July, including a first charge loan offered to a high-profile Chelsea football player.

This deal was agreed to unlock equity on a £3m prime Fulham property with the bridging lender offering a loan of £2.2m on a first charge basis with a 66% LTV.

Century was able to finalise a 12-month term for the client in just five working days.

In a different deal, the lender completed a £1m equity release on a six-month term.

This was secured against a London property worth £26m –which had a first charge loan of £10m – on a second legal charge basis at 42.38% LTV with the exit being the sale of a classic Ferrari sports car.

Paul Munford, CEO of Century Capital, said: “They say property is about location, location, location.

“Well, bridging lending is about speed, speed, speed.

“And that’s where Century delivers.

“We are totally customer focused and my broking background gives me the insight into what brokers and clients really want and need.

“We don’t kick deals into the long grass, we make it happen and make it happen quickly.”

Another case reported by Century Capital featured a loan on a property in Peckham, south London.

The borrower needed to unlock the equity on his property to use the funds to inject stock into his business, as well as funding maintenance work to be carried out on the building.

The deal was agreed with an LTV of 65% with the exit being a commercial refinance.

Leave a comment