Funding 365 and Adapt Finance complete £1.46m commercial bridge
Funding 365 and Adapt Finance teamed up to complete a £1.46m commercial bridge at 0.75% per month.
The client was looking to secure funding to develop the top three floors of their commercial property in Berkshire, with planning permission already in place.
After Adapt brokered a development facility for the top three floors, Funding 365 was happy to offer 0.75% per month commercial interest rate at a 65% LTV given that the ground floor was tenanted and the borrower was an experienced property professional with a secure exit plan.
Laura Kendall, marketing director at Funding 365, said: “Adapt orchestrated this complicated deal involving different loans and lenders with their usual skill and good humour.
“We always have complete confidence that any deals that they package will complete with the minimum of fuss.”
Jordan McBriar, managing director at Adapt Finance, added: “It was critical to complete both the development funding and commercial bridge on the same day and we knew we could rely on Funding 365 to deliver.
“Keeping a keen rate, the client was more than happy with the whole experience.”