Arc & Co

Arc & Co and Catalyst complete development exit bridging loan for west London homes

Arc & Co and Catalyst Property Finance have teamed up to complete a £1.4m development exit bridging loan for three houses in west London.

The client needed the funding to satisfy the landowner — who required a land payment 27 days after practical completion of the development — and provide an appropriate amount of time to sell the properties at maximum value.

The 12-month facility was agreed at 70% LTV on a rate of 0.64%.

Tom Berry, asset finance adviser at Arc & Co (pictured above), said: “The speed and diligence Catalyst gave towards the case was great. 

“They picked up this deal, which had a tight turnaround time, and were able to complete in a four-week period.”

Josh Hawker, relationship manager at Catalyst Property Finance, added: “It’s been an absolute pleasure to work with Arc & Co on this loan. 

“The client was an extremely successful property developer, but the case presented some complexities and required a speedy turnaround to funding. 

“I have to say, Tom is one of the most hands-on brokers we work with; we spoke daily and, working with our amazing credit analyst, James Parnall, we were able to provide the client with the required funding within four weeks — a great team effort!”

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