Century Capital

Century Capital completes £9.2m worth of deals

Century Capital has completed three deals totalling £9.2m.

The first deal, introduced by Arc & Co, was a £5.5m facility for a client looking to redevelop a Grade II-listed manor house in Cotswolds.

The borrower had already invested a substantial amount of funds in kick-starting the development, but was let down by their initial lender, which backed out of the deal at the last minute.

Although the case was fairly challenging due to the type of property and the works undertaken, Century Capital was able to provide the necessary facility at 70% LTV on a nine-month term.

The second deal, also introduced by Arc & Co, was a £1.5m equity release and refurbishment loan for a country house in the outskirts of Oxford, valued at £5m.

The borrower, who had spent over £1m to refurbish the property, required the funding to recoup the cash invested to date until the property was sold, and to complete some final works in the garden.

Century Capital agreed the facility at 30% LTV over 18 months.

The third deal, introduced by a regular broker partner of Century’s — was a £2.2m bridging loan to complete an auction purchase of a property in Hampstead. 

After their original broker was unable to secure the finance promised, the borrower was left with only three days to obtain the necessary funds to complete the transaction.

The vendor was unwilling to extend the completion deadline, which meant the client was at risk of losing their £350,000 deposit.

Despite the time pressure, Century Capital was able to complete the underwriting and due diligence within one day, and provided the facility at 65% LTV on a six-month term two hours before the client’s deadline.

Julian King, director at Arc & Co, said: “Century’s knowledge and experience in the upper end of the market, meant that it was comfortable to support my client’s requirements, where many others just couldn’t. 

“Century really know its market when it comes to prime and super prime assets and locations.”

Paul Munford, CEO at Century Capital (pictured above), commented: “Arc & Co is one of our most trusted partners and we have been working with Julian and Nikita [financial adviser at Arc & Co] for many years now. 

“This demonstrates how we work together with our broker network to overcome the intricacies of complex deals, often when time is not on our side.”

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