Glenhawk has completed a £4.56 million regulated bridging loan to fund the acquisition of a family home in the West Midlands.
The facility was agreed at 75% LTV and secured against two properties, allowing the borrower to purchase a large residential property comprising a main house, office building and separate cottage across adjoining titles.
Additional security was provided through a cross-charge against the existing main residence of a family member.
The exit is structured around the sale of the existing main residence, together with a residential mortgage on the newly acquired property.
The case was originated by Annaliese Ellis, business development manager at Glenhawk, and underwritten by Ruth Griggs, underwriter. Aaron Beard, case manager, supported the transaction through to completion.
Ellis (pictured) says: “We’ve become a go-to lender for regulated bridging, particularly for larger loans where a commercial approach and careful structuring are needed.
“That ability to assess, structure and deliver larger regulated loans is a key part of what we do.
“This was a strong example of where bridging made sense because the borrower had a clear exit, but needed the time and flexibility to complete the purchase before selling their existing property.”
