BridgingNews

Sirius completes £12m loan in 11 days

Sirius Property Finance has completed a £12m loan with Castle Trust, secured against a complex portfolio, in 11 working days.

Sirius refinanced a loan that had already passed its maturity date and started to incur penalties. The brokerage worked closely with Castle Trust to ensure the case was approved and processed.

Nicholas Christofi (pictured), co-founder at Sirius, said: “What distinguishes Sirius over other finance brokers, is our ability to balance the needs of the lender and the borrower, to create a deal that works for everyone, and this is an excellent example of what can be achieved when you have the expertise and relationships to take this approach.

“We were left in a very difficult situation on this case, but we didn’t bemoan the circumstances or point fingers of blame.

“Instead, we rolled up our sleeves, spoke to our contacts and presented a case that was approved by Castle Trust in just a couple of days and completed in less than two weeks.

“I’d like to thank Paul Debney, the Sirius adviser who worked tirelessly to get this across the line and all of the team at Castle Trust, who reflected our determination and urgency to get the deal done.

“There are not many lenders able to agree and process such a large and complex case in such a short amount of time.”

Marcus Dussard, sales director at Castle Trust, added: “We’ve recently noticed a trend in the industry of lenders pulling back from deals they have already agreed in principle, particularly on larger or more complex loans, and it is causing brokers extreme frustration.

“Fortunately, the team at Sirius are masters in this market, so when they needed a rapid solution, they knew to speak to Castle Trust.”

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