Lender stretches reach for €10m overseas bridge

Earlier this year, Simple Bridging Ltd completed a 10 million bridging loan secured on property assets in the Netherlands.

The prime loan was on commercial buildings in Holland which had been bought from receivers. The loan was funded by Simple’s exclusive funding partner, Waterman Capital Limited, who use a combination of institutional and private money.

Chief Executive Officer, Hassan Sayani, received a phone call from a borrower who he knew well. Although Simple only normally lend to England, Scotland, Wales, Isle of Man and Northern Ireland, they were able to assist even though it wasn’t geographically their typical loan., noting: “We have a much wider spread than many bridging companies.”

The loan, which was proposed in April, took about 4 weeks to complete.

“We treated it like a normal bridge,” said Hassan.

Although there was no fixed exit in place, Hassan was confident the deal would go through without a hitch, he maintains that: “The corporate borrower was very good,”.  While reflecting on the transaction, he mentioned “I would absolutely do it again.”

Hassan was an international lawyer before entering the bridging market. “I am not scared of complex legal issues,”

“We are quite creative and like to solve problems,” Hassan said.  He added: “We look and, if a loan makes sense, we will do it.”