The transactions completed during the month of December for Montello, included a loan against a property in the UK owned by a company incorporated in Belize. Another transaction during the month was a loan against a hotel in Victoria in Central London, in a deal worth just over £2m. Both of these transactions were completed within the 3 business day average for the month.
Ian Thomas, director at Montello, explained that “with these two transactions in particular, we were able to work closely with our external legal counsel and valuers to ensure a very fast turnaround relative to the complexities involved. For the hotel transaction we relied on a recent existing valuation, and our own internal analysis and site inspection of the asset”.
Christian Faes, managing director at Montello, said: “This is proof that we are able to provide funding that is genuinely fast and flexible. We are not funded by a banking facility, so we don’t have to go to our bankers for approval on each deal - we make our own underwriting decisions internally. This allows us the flexibility to act very quickly when the deal fits the criteria of what we are looking to lend against.”
