The 65% LTV, 18-month term facility will fund the refurb and conversion of the property into an 18-bed assisted living facility for a registered healthcare provider.

While the property had already been purchased and planning received, the customer needed to get funding in place as soon as possible to complete the works — however, Streambank was able to underwrite and approve the case within days.

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Damian McGann, director at Funding Friends — the brokerage which introduced the deal to the lender — said: “With StreamBank being a new bank, this is the first transaction I have had submitted to it; I have been extremely impressed with the service provided and will be happy to recommend it to future clients.”

James Evans, BDM for the North at StreamBank (pictured above), commented: “This case highlights StreamBank’s commitment to always understanding customer needs and offering a service that brokers and their clients expect. 

“It was a pleasure working with Damian, as he was involved throughout the whole deal from start to finish.

“As a lender, it makes life so much easier when the broker is engaged at every step of the process and understands the clients’ requirements.”