|GROSS LOAN||LOAN TYPE||TERM||LTV||LOCATION||MONTHLY RATE|
|c. £4.7m||Refinance||12 months||70%||SW London||0.80%|
The customer required a refinance bridge to repay an existing development facility to give them adequate time to market and sell the property. The customer’s feedback has been extremely positive and we look forward to working with them again on future projects.
The customer is an experienced, developer specialising in luxury property. They have just completed a significant refurbishment of a unique, 8,500 sq ft, seven storey, Grade II listed period property in South West London.
What the borrowers said: “Novellus were great in making the process simple and straightforward, just as was suggested would be the case. A great product and personal service. I look forward to working with you again in the future”.
Research: Novellus has discretionary access to capital and can analyse and support time sensitive opportunities. In this instance, the client needed a quick solution to support their project. Our experienced team aligned with the client’s professionalism and local development expertise enabled us to work together and deliver a positive outcome.
Terms and Timelines: Novellus were able to complete on the £4.7m loan facility at a 70% LTV, within a short timeframe, in order to meet the customer’s existing redemption requirements. The loan completed within 15 days of the initial enquiry.