Ray Palmer

Suros Capital completes £80,000 loan for property renovation

Suros Capital has completed a £80,000 bridging loan within six hours of enquiry for a property renovation.

The client, a seasoned professional property developer, needed funds quickly in order to go ahead with a planned renovation project which had a set completion date.

She was unable to raise funds from her bank or other short-term lenders within the necessary timeframe, as the criteria requirements would have taken too long.

With the client in possession of an Audemars Piguet watch and a small collection of jewellery, including Graff diamond earrings, she brought the items into the lender’s London office for valuation.

Suros Capital was then able to advance £80,000 immediately to the borrower, with the six-month facility arranged at 70% LTV and on an interest rate of 3%.

“Suros is really making its name as a lender which can deliver for all types of client,” said Ray Palmer, director at Suros Capital (pictured above).

“The client was delighted and now knows she can make use of her luxury assets at any time, if she needs funding instantly.”

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