Fairbridge completes complex multi-asset bridging loan

Fairbridge Capital has completed a £2.5m bridging loan to fund the acquisition of a luxury residential property in Chigwell.

The facility — agreed at 70% LTV on a 12-month term — was structured across six property titles comprising both first and second charges, including five residential units and land with planning located in Kent and London.

According to the lender, this was a particularly complicated transaction, given the various asset types being secured against, the borrowing entities, and the short timeframe between exchange and completion. 

Dalian Gill, co-founder of Fairbridge Capital (pictured above, left) said: “We were able to combine multiple products to find a truly tailor-made solution; in this case, we were able to offer our land with planning, second-charge and BLT products to assist our client in funding their acquisition. 

“Great efforts were made by our underwriting team and Jonathan Lavery, consultant at Athena Law, to overcome the complexities and complete the deal within a short frame of time.

“This is a testament to the solution finding approach we deliver on every transaction and confirms our appetite across second-charge lending and land with planning.”

Aman Bajwa, co-founder of Fairbridge Capital (right) added: “This latest completion brings to a close our strongest quarter to date, a reflection of our consistency in service delivery to our customers and introducer partners. 

“While completions are up by 58% since the first quarter, I would expect this upward trend to continue as our reputation for reliability becomes even more prevalent.

“Our strongest product at the moment is certainly our development finish product, with our key driver being our desire to support developers whose developments have stalled due to the recent pandemic — along with material shortages.

"The fact that we are able to get asset managers to site within 24 hours, with drawdowns the following day, has been greatly received.”

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