105644 - £4,502,000 bridging loan against a split level flat based in London.

105644 - £4,502,000 bridging loan against a split level flat in London.

Loan amount: £4,502,000

LTV: 67.19%

Term: 9 months

Security: 1st charge

Product type: Bridging loan

TAB completed a £4,502,000 bridging loan secured as a first charge against a split level flat in London with an LTV of 67.19% for nine months. 

The borrower's loan was due to reach maturity on 29 December 2023 and coupled with the busy festive period,  the borrower sought another lender to refinance the loan.

The broker, being familiar with Eli Korman and aware of our reputation for quality and efficiency, contacted the team to see if we could meet the extremely tight deadline of their client.

Despite people being away for the December holidays, our dedicated team worked tirelessly to ensure we exceeded expectations and met the tight deadline. This is testament to us being a lender you can trust as we are consistent with not only what we say but also what we do.

The property is an impressive split level flat, built in around 1876 or thereabouts. The flat is arranged over ground and first floors, situated within an attractive six storey building which is understood to contain at least one other unit.

It’s nice when you have a deal and all parties are committed to simplifying the process and executing a traditional bridge loan. The tight deadline created productive urgency for the team and knowing we had the Christmas holiday added even more pressure. Recognising the additional distractions that accompany the holiday season, we remained focused to ensure the work was completed on time. Emmanuel Johnson, Underwriting Manager at TAB.

It was a pleasure working with TAB on this, we’re looking to expand our business ourselves and partners like TAB are going to be essential going forward. I must thank EJ and Eli again for delivering on all their promises and more. Sam Youngs, Managing Director at Bespoke Bridging Finance.

What I really enjoyed about this case is that absolutely every member on the team whether it was from the TAB side, the professionals or the borrower's side, everybody was true to their words. What they said they were going to do, they did it on time. We all came together in perfect harmony to get the deal done. Eli Korman, Chief Investment Officer and Head of Development Finance at TAB.

This article is for information only and does not constitute advice or a personal recommendation. As with any investment your capital is at risk and you should seek advice concerning suitability from your investment adviser.