The first bridging loan — of circa £318,000 — was provided so that the borrower could acquire an extended two-storey, end-of-terrace house in Uxbridge, Middlesex.

The acquisition is part of a property portfolio which the borrower is seeking to grow.

Avamore remained commercial on the legals and took a view on certain points that it would normally ask for.

•   Making every hire count in the new economy
•   Avamore completes bridging loan in two days for site purchase
•   Avamore completes sixth loan with same borrower this year

As a result, the 12-month loan was issued at 0.67% pm, and at 70% LTV. 

The second deal was an acquisition bridging loan of approximately £1.6m in Stamford Hill, London. 

The finance was required by an experienced investor who has a large-scale property portfolio and was looking to purchase three two-bedroom terraced houses and one two-bedroom bungalow. 

As part of the bridging loan, Avamore assisted with the corporate acquisition of a company which held the underlying property asset. 

The bridging lender navigated a complex legal and tax structure, working alongside the borrower and the broker, as well as the borrower’s tax and accounting advisers to complete the deal. 

After the final corporate structure was agreed, the 12-month loan — which was issued at 0.67% pm at 70% LTV — was completed 10 days later. 

“There was principal involvement throughout both transactions from day one, which gave us confidence that they would complete once we passed formal terms,” commented Stephen Burns at Adapt Finance.

“In addition, it was clear that every member of the team was extremely knowledgeable; everyone I spoke to was able to provide the appropriate level of support from decision making through to underwriting and case management. 

“When challenges arose, the team were quick to respond and react, making sure that they were sticking to the timeframes agreed. 

“Both of my clients were happy with the final outcome and I am looking forward to doing more with the team.”

Henry Manley-Cooper, associate credit analyst at Avamore Capital (pictured above), added: “It’s been great working with Stephen and the Adapt team to get these two deals over the line. 

“Stephen was clear and transparent from the outset, and so we knew exactly what we were dealing with from the very beginning. 

“Communication was key throughout and we always worked as one team with Adapt to get these deals completed. 

“We have more in the pipeline and are really looking forward to strengthening our relationship even further.”