Lendhub provides £2.52m bridging facility for complex deal

Lendhub has completed a £2.52m bridging loan for a substantial plot of land comprising a mix of asset classes.

The client required the funds to purchase the site, which was held over four freehold titles, and give them time to explore different opportunities and work up a planning scheme to redevelop the property.

The site consists of a residential dwelling and several commercial assets, which were occupied at the time of completion, as well as a large plot of unused land, which will provide potential for future site growth and development.

The Lendhub team worked closely with Lawrence Stephens in reviewing the seven leases that existed on the land and bringing the completion over the line.

The £2.52m bridging facility was agreed at 90% loan-to-purchase-price (LTP) on a nine-month term.

Asim Shirwani, chief commercial officer at Lendhub (pictured above), said: “We worked extremely hard in getting this deal over the line for our new client. 

“The case presented some complexities, but with our team’s experience and expertise, assisted by the team at Lawrence Stephens, we were able to overcome the challenges and deliver as required. 

“At Lendhub we pride ourselves on providing a transparent and reliable service, while working closely with our key partners in reaching the best possible outcome for our clients.”

Gregory Palos, head of real estate finance at Lawrence Stephens, commented: “It’s always a pleasure working with the team at Lendhub and we’re very pleased to have assisted in the delivery of this significant bridging loan. 

“As a firm, we always aim to deliver a bespoke, personal service, working in collaboration with our clients, which led us to achieve an excellent result for Lendhub and their clients in this transaction.”

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