The outcome of outstanding relationships with broker, quantity surveyor and solicitor

Facility

£1,665,544

Loan Term

12 months

LTV

41%

Issue

At times, we are presented with cases which are tricky and require support from multiple parties to ensure we can achieve the outcome the client is looking for. This particular case was a heavy refurbishment project, involving a vacant freehold former pig farm in Lancashire, which had planning consent to convert the former agricultural buildings into twelve private dwellings.

 

The client had 3 presales for the first quarter of 2021, so the transaction was time critical and required the expertise of the Hope Capital team as well as the additional support and knowledge of an experienced quantity surveyor, broker and solicitor to work together to deliver the deal on time.

 

The nature of this case presented many challenges due to a range of complexities which had to be investigated and resolved. This included matters such as planning issues, asbestos contamination, legal aspects involving a right of way consideration to name a few.

Solution

Hope Capital worked collaboratively with Jamie Dutton at Watts, Chris Johnson at Bespoke Property Finance Consultants and Joei Chung at Freeths, to provide a tailored financial solution for the client.

 

Other lenders would have struggled to deliver within the desired timescales but owing to the excellent working relationship developed between the four parties and due to the knowledge, expertise and support from each of the professionals the deal was completed on time.

“It was a pleasure working with Hope Capital on this case. While there is no doubt it was a very difficult transaction to manage through to completion, it is a relationship with a lender like Hope Capital, which ensures we can deliver what the client wants.”

Chris Johnson, Bespoke Property Finance Consultants

Result

Some situations are more complex than others. However, we never turn away a challenge and managed to provide a 40.9% LTV bridging loan to meet the needs of the client. The success of the heavy development project is solely down to the professionalism, hard work and collaborative effort of all parties involved.

 

The customer was extremely impressed with the speed, flexibility and transparency Hope Capital provided and were delighted we could find a solution, which they struggled to find with other lenders.

 

When a lender, broker, quantity surveyor and solicitor have a clear understanding at the outset of the application and stay connected throughout the case, the entire loan process progresses smoothly and in a timely fashion. We would like to say a huge thank you to Jamie, Chris and Joei for their support and doing everything they could to make things happen and secure the deal.

Miriam Howarth

Miriam Howarth

Miriam is responsible for developing the overarching marketing strategy and implementing the strategy across all marketing channels. This will both expand and deepen the relationships with brokers and key partners within the industry.

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Debbie Wilson

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