Glenhawk has completed a £1.4 million bridging loan to support the acquisition of a farmhouse and holiday let cottage complex in Bristol.
The specialist short-term lender provided the facility for experienced Dutch national property investors.
The deal was introduced by Callum Taylor and the team at Portway Finance, with the case led at Glenhawk by Loulou Rich, underwriter, and Peter Turner, senior BDM.
The loan was structured at 75% loan-to-purchase-price and enabled the borrowers to move quickly after another transaction had fallen through.
The case included several technical and legal considerations. The borrowing SPV was owned through three offshore companies, while an overage deed emerged during the later stages of the legal process.
Glenhawk says it worked with Portway Finance, legal representatives and other parties involved to manage the structural and legal issues and complete within the required timeframe.
Turner (pictured) says: “This deal had it all: a complex borrower profile, a specialist property and a number of moving parts throughout the process. It highlights how important it is to take a commercial and solutions-focused approach when challenges arise later in a transaction.
“Thank you to Callum and the team at Portway for all their support throughout the deal and for trusting us to get it over the line.”
Taylor, CEO at Portway Finance, adds: “Having worked with Glenhawk for many years, I’ve always admired their proactive and practical approach to more complex transactions. No challenge ever seems too difficult to work through, and this deal was a strong example of that mindset in practice.
“A huge thank you to Loulou and Pete for their support throughout the process and for delivering a great outcome for the client.”
