TAB and Opes Financial Partners have completed a £6.9m bridging loan for the investment purchase of a £11m newly built luxury townhouse in north-west London.

The loan was provided to a company structure where the borrower was a foreign resident from South Asia.

The facility — which was arranged from start to finish within three months — was agreed at circa 67% LTV and 0.95% rate on a six-month term, with the option to renew for a further six months.

Opes Financial Partners is actively working on the exit of the bridging loan with long-term finance from a Middle Eastern bank.

Aijan Aldridge, associate director at Opes Financial Partners (pictured above) said: “It was great to work with TAB team on this transaction as they were flexible in their approach to maximise the net loan amount required to complete for our client.”

Masood Rashid, director at Opes Financial Partners, added: “This was a particularly significant [facility] as the loan was on a high-value single asset.

“Despite the lockdown and travel restrictions, international investors are still buying in central London at the top end of the market.

“The sentiment from the high-net-worth overseas investors in central London remains strong, which is a positive sign for the city as we come out of lockdown.”

Nick Russell, sales director at TAB, commented: "This is TAB's largest loan to date and just reinforces the strong working relationship we've created with Opes.

“The deal was undertaken remotely and, as always, communication between everyone involved was essential.

“This was a team effort to get the deal over the line and is a testament to the talent at both TAB and Opes."