Property developer Centaur Group has secured a £1.2m development exit facility from Hampshire Trust Bank. Brokered by Essex-based introducer Brightstar, the financing was turned around in eight days from initial enquiry to completion.
The facility will refinance an existing loan secured against a residential property in Camberley, Essex. The construction phase of the project has completed and the property is currently for sale.
Kit Thompson, Director, Short Term Lending & Development, at Brightstar, said: “Eight days from application to enquiry, with the legal paperwork completed by Lightfoots in three days, is phenomenal work. This is the smoothest, slickest process I have experienced from any bridging lender in quite a while. We are looking forward to working with Hampshire Trust Bank again.”
Hampshire Trust Bank provides a range of specialist mortgage solutions including bridging, development exit finance, BTL and HMO and semi-commercial mortgages with loan amounts of up to £5m and commercial mortgages with loan amounts of up to £2.5m. Larger transactions are considered on a case by case basis.
Matthew Wyles, Chief Executive Officer at Hampshire Trust Bank, said: “In my experience completing deals within a few days requires all the parties to be on the ball from Day 1. That was definitely true in this case. The client, Brightstar and the lawyers were all superbly responsive - it was a real team effort and a textbook example of what good looks like. A big thank you from us to Kit Thompson and his fabulous team.”
Find out more about Hampshire Trust Bank’s Specialist Mortgages division.