Pure Structured Finance

Pure Structured Finance arranges complex CBILS loan

Pure Structured Finance has obtained a £2.5m CBILS development exit loan for a prime London developer.

The client required the funding to repay their existing funder and focus on selling the property at the right price.

The property, an extended two floor apartment with garden on the lower ground floor and newly built outbuilding, forms part of a prime residential area in Chelsea.

The brokerage was able to secure the facility at 75% LTV on a 12-month term, which was counted as an exception due to the strong relationship held between Pure and the lender, Aspen Bridging.

The loan was met within the deadline, allowing the client ample time to sell the properties.

Tom Lee, director at Pure Structured Finance, said: “The client chose our team to secure the much-needed funding due to our expertise in structuring finance in London, as well as the strong relationships we have with funders. 

“Having discussed previous projects with the client prior to Covid, we were confident we could achieve a good result in this case.”

The client, who wishes to remain anonymous, commented: “Working with Tom has been an absolute pleasure securing funding on this development of ours. 

“The process was seamless from start to finish and we look forward to working with Tom and his team on many more deals in the future.”

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