Whitehall provides £2m bridging loan for Marylebone apartment

Whitehall Capital has completed a £2m bridging loan for a four-bedroom residential apartment in Marylebone, central London.

The loan will refinance a recently refurbished £2.7m flat on the third floor of the Bickenhall Mansions period mansion block. 

The property comprises two substantial blocks of apartments built in the early 20th century, arranged on the north and south sides of Bickenhall Street near Baker Street.

The bridging facility was arranged at 70% LTV and 0.9% per month for six months, with the ability to extend the term.

The exit plan is a refinance to a mainstream lender.

Indre Johnston, senior associate at Lawrence Stephens, worked with Whitehall to help complete the deal.

Paul Colam, chief operating officer at Whitehall, said: “We are 100% self-funded, leveraging a well-established network of HNW individuals, family offices, hedge funds and, as required, the wider market — so we are funded to move at pace and can reduce transaction turnover times significantly.

“That gives us a real market advantage and has contributed significantly to the widely coveted reputation we enjoy for a quick turnaround, our clear, open, honest communication throughout the loan process, and our ability to get projects funded.

“Our transaction pipeline remains strong and encouraging and, with life beginning to return to some normality, we look to the second half of the year with great optimism.  

“Our focus on high quality borrowers and low-LTV loans is proving to be a recipe for success in the current economic environment, with some excellent lending opportunities being presented to us at this time.”

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