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Sirius and Enness deals push Castle Trust to record day

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  • 24/03/2020
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Sirius and Enness deals push Castle Trust to record day
Castle Trust has delivered a record day for completions totalling £17.7m.

 

The completions included two large loans of £5.6m and £9.7m, completed with Sirius and Enness.

The £9.7m completion, advised by Sirius Property Finance, was a development exit at 5.50 per cent.

The deal was an office conversion of more than 60 units in Sutton Coldfield, with a complex title that provided access to parking spaces only on a leasehold basis.

The £5.6m completion involved the refinancing of an existing loan from another lender on 21 residential apartments on one title, all of which were currently let.

Working with broker Enness Private Clients, Castle Trust completed the loan within eight weeks with serviced term finance at 75 per cent loan to value charged at 5.77 per cent.

Earlier this week, Castle Trust was granted a banking licence which will allow the lending to continue growing its business.

Chris Whitney, head of specialist lending at Enness Private Clients, said: “There was a tight completion timescale on this loan and many elements to the case which needed shaping and understanding as well as flexibility within the term of the loan to facilitate the borrower’s onward plans.”

 

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