Oblix Capital

Oblix Capital provides £3.1m to fund Welsh residential scheme



Oblix Capital has completed a £3.1m facility to fund a site acquisition and development of eight luxury homes (pictured above) just outside Cardiff.


The specialist lender was approached by the client’s broker Sirius Property Finance after another lender couldn’t complete on the funding.

Oblix managed to overcome a number of complexities and tight deadlines to provide the 24-month heavy development facility at 65% LTV.

Rob Heywood, senior associate at Sirius Property Finance, said the biggest worry with challenging cases was ensuring the borrower’s timeframes and expectations were fully achieved.

“The efforts and expertise demonstrated by the entire risk team at Oblix have been outstanding.

“The care, due diligence and willingness to place the borrower at the core ensured the case kept moving to hit every single deadline – this has left the borrower absolutely delighted with the outcome.”

Andy Reid, sales director at Oblix, added: “The expertise and cooperation demonstrated by Rob and his team at Sirius made every aspect of this case as seamless at it possibly could be.

“All information was supplied in the most timely, professional and proactive manner – a truly great example of lender and adviser working together to get the best outcome for the borrower.

“It’s great to see all parties going above and beyond expectations to proactively progress this case to funding.”
 



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