Downing Property Finance celebrates 3 week turnaround for Bridge Loan
Downing Property Finance has again demonstrated its expertise by securing a £1m exit bridge loan for a longstanding client, marking their fourth successful collaboration. This transaction underscores Downing’s dedication to providing rapid, tailor-made solutions for experienced developers in what has been a tricky sales environment over the last six months.
Structured with 72% gross loan-to-value (LTV), the 12-month term loan was finalised within three weeks from the initial enquiry, including a 2.5-week period following Investment Committee approval. Downing’s quick progression from approval to completion exemplifies its agile approach and the seasoned team’s ability to meet client demands promptly.
The facility enabled the release of equity from the final three properties of a substantial 115-apartment development in Southwest London, assisting the developer in bolstering their cash flow and continuing operations without disruption. Despite legal difficulties and a demanding timeline, Downing managed the complexities and ensured a smooth transaction for the client.
Investment Director Richard Lamb commented: “Having come to us after being let down by legal delays with another lender, our team’s expertise ensured we swiftly met our client’s requirements, completing the loan within three weeks of the initial discussion. Our integrated process, which avoids separate origination and credit teams, results in more expedient approvals for our brokers and clients. We are committed to offering customised services and a direct, engaged approach.
“The robust relationship forged over successive projects and £72m of lending, is a testament to the mutual trust and professionalism that characterises Downing’s client relations.”
