Specialist brokers secure multi-million pound deals at break-neck speed

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  • 25/06/2019
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Specialist brokers secure multi-million pound deals at break-neck speed
A pair of complex, multi-million pound mortgages have been secured at top speed by specialist finance brokerages on properties in Leeds and London.

 

Sirius Property Finance secured a £12m loan from Castle Trust against a complex London portfolio in the space of 11 working days.

Meanwhile Hampshire Trust Bank (HTB) formed and swiftly completed a £23.7m complex syndicated loan for a large property near Leeds. The deal was brokered by Newsource Commercial Finance.

The syndicated loan comprised £9.8m from HTB and £13.9m from another lender, each refinancing two blocks, at 75 per cent loan-to-value. The transaction enabled full repayment to the existing funder.

“Speed and co-operation were paramount in this extremely complicated syndicated deal. HTB had both the hunger and capability to deliver and were extremely constructive throughout,” said Newsource Commercial Finance director Brian Walters.

HTB specialist mortgages sales director Alex Searle said: “Both teams turned the proposal around swiftly, supported by a very efficient legal process with open dialogue between all sides.”

 

London deal

The deal brokered by Sirius Property Finance refinanced multiple units in North London whose existing loan had passed its maturity date and was incurring penalties.

The broker liaised with lender Castle Trust to approve and process the loan.

“This is an excellent example of what can be achieved with the expertise and relationships to balance the needs of lender and borrower and to create a deal that works for both sides,” said Sirius co-founder Nicholas Christofi (pictured).

“We rolled up our sleeves, spoke to our contacts and presented a case that was approved by Castle Trust – which reflected our urgency and determination – in two days flat. Not many lenders can process and agree such a large, complex case in such a short time-frame,” Christofi added.

Marcus Dussard, sales director at Castle Trust said: “We’ve noticed a trend of lenders pulling back from deals they have agreed in principle, particularly for large or more complex loans. Our flat decision-making structure and focus on complex cases that enabled a rapid solution.”

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