Suros completes £350,000 bridging deal in eight hours

Suros Capital has completed a £350,000 bridging loan within eight hours, secured against the customer’s collection of watches and jewellery valued at £500,000.

The repeat client required the funds to complete the purchase of a residential property in the South East to expand their portfolio.

The bridging loan was agreed at a rate of 2% per month on a six-months term.

The customer is expecting funds from an imminent property sale to exit the new bridging facility.

Charles Hodge, business development director at Suros Capital, said: “The customer had been very complimentary about our service when he used our service before and decided to use us again because of his previous experience. 

“Much of the collection of watches and jewellery was already known to us and had been valued only months before. 

“Therefore, it took only eight hours to release funds after the initial request. 

“For a developer like this, the ability to access funds within hours, simply and quickly, has got to be a hugely valuable benefit and through Suros Capital, we can make it happen.”

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