The borrower was a repeat customer who had borrowed from Hilco the previous year and this loan was against another asset in the borrower’s portfolio.

The lender recently completed a £1.3m refinance loan on a large MUFB development in London within 9 hours of issuing the offer.

The borrower plans to redevelop an exclusive Grade II Listed townhouse on super-prime residential location, South Audley Street.

The development exit loan was structured with a short 12-month term to align with the anticipated rapid sales of the properties.

The lender completed the loan for an experienced property developer in just 12 days.

The funding comprises a £7m acquisition bridge, provided by specialist lender Octane Capital, and a £2.3m VAT loan from Adsum

The seasoned developer required the facility to repay an existing development loan and raise an additional £225,000 for further investments.

The deal was completed on Aspen’s Stepped Rate, starting at 0.59% per month over 10 months.

The latest transaction for Tuscan was part of a record-breaking first half of 2024 for the lender

The £85 million investment loan for Author King’s Cross is the first for Related Argent’s build-to-rent portfolio, following previous construction loans.