The loan will refinance a recently refurbished £3.1m eight-unit residential development scheme.
Specialist bridge financing fund Whitehall Capital Management Limited has completed a £2.3m loan, refinancing a recently refurbished £3.1m eight-unit residential development scheme in Peckham, London.
Whitehall processed the loan from start to finish in eight days.
Christos Kitromilides, analyst at Whitehall Capital, said: “This is quite an achievement given the challenges we face at this time.
"We are of course 100% self-funded here at Whitehall, leveraging a well-established network of HNW individuals, family offices, hedge funds, and as required, the wider market.
"We raised £5m of new money from our investors during Q1, adding further liquidity through a £10m bank facility, so we are funded to move at pace and can reduce transaction turnover times significantly; that gives us a real market advantage and has contributed significantly to the widely coveted reputation we enjoy for a quick turnaround, our clear, open, honest communication throughout the loan process and our ability to get projects funded when many of our peers decline to lend.
“This is a very difficult time for many businesses, and the consensus is for things to become worse before they get better, but the bridge lending market has shown remarkable resilience; our pipeline remains strong and encouraging.
"Our focus on high-quality borrowers and low LTV loans is proving to be a recipe for success in the current economic environment – some excellent opportunities being presented to us and all loans being serviced at this time.”
