Central Bridging receives new funding line for larger loans
Central Bridging has recently obtained access to new funding lines to help fund larger ‘jumbo loans’, loans ranging from £5m to £50m in a single transaction.
Ideally suited for both UK and overseas investors, these loans can be secured against both residential and commercial properties.
They are available up to 65% LTV of open market value on residential and 60% on commercial and semi-commercial property. Terms can be from three to 24 months with rolled up or serviced options available.
John Clifford, managing director at Central Bridging, said: “We have a Team with the skill-set and knowledge needed to complete these exceptionally large loans quickly.
“Crucially our new funders allow us to retain full decision-making autonomy in house ensuring that we can offer an initial director’s decision and terms within hours.
“Finding lenders that will consider these jumbo loans against high value, single unit properties and won’t impose a maximum property value has been all but impossible in recent years so I’m absolutely delighted that we can now offer this unique and exciting product proposition to our professional colleagues.”
With no maximum property value, these loans are generating interest from a wide range of clients, including UK and overseas, as well as offshore companies and trusts that remain keen to invest in London.
Within the last week, Central has issued terms on a £30m loan on a commercial property in Canary Wharf and a £17m loan on a residential property in Zone 1.