The funds were used to clear an existing £5m bridging loan on a luxury apartment in central London and to refurbish the property raising its value to £12.5m up from £10m. 

The client was a Monaco-based expat and the asset was owned by an offshore limited liability company.

Crystal worked with lender Together, which approved the application – following an offshore opinion – and provided funds within 15 days.

“The deal was in an area of strong purchase demand, the client had a solid exit strategy and we knew that Together was the right lender to complete such a specialist overseas applicant case to the very tight timescales,” said Jo Breeden, managing director of Crystal Specialist Finance (pictured). 

Sponsored

Aldermore Insights with Jon Cooper: Edition 10 – The biggest barrier to homeownership isn’t affordability. It’s outdated lending.

Sponsored by Aldermore

“We’ve a long-standing relationship with Crystal and were more than happy to look at this latest complex case. It was expertly packaged, making it easy for us to take a view on whether we could provide the finance needed,” said Marc Goldberg, commercial chief executive at Together.

“The fact that we were able to make a quick decision meant a great outcome for us, our partners at CFS and their client.”