Sirius Property Finance

Sirius closes £1.1m bridging loan in four days




Sirius Property Finance has completed a £1.1m bridging loan within four days to finance the purchase of a semi-commercial property at auction.

The client approached Sirius with just a week to go before they were contractually obliged to complete on a £1.25m semi-commercial property in Kilburn, North West London.

The borrower was looking for an alternative finance solution, as the previous offer from a different lender would have left the client with a £120,000 shortfall and required them to redeem the mortgages on two other BTL properties, potentially incurring over £30,000 in ERCs.

Sirius worked closely with lender, West One, to provide the facility on a 12-month term, completing the deal in four days from the initial enquiry.

Fodi Christodolou, senior associate for residential and investment finance at Sirius (pictured above), said: “This deal would not have been possible were it not for the fantastic relationship that Sirius has with West One.

“The client didn’t believe that we would be able to complete it in the timeframe, but we worked closely with the lender to ensure that all parties were able to get it across the line in time, delivering a great result for the client.”

Nick Jones, sales director at West One Loans, said: “This deal is a great example of what can be achieved when lenders and brokers work closely together in the interests of the client. 

“We overcame a lot of hurdles in just a few days and delivered a result the client didn’t think was possible when they first approached Sirius.”

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