"High value units in central London are not readily supported by lenders, especially not above 70% LTV, but Stamford Finance really came through on their promise of being a lender that can take a pragmatic view when it comes to increased leverage"
- Corey Dennis - Arc & Co.
Arc & Co. and specialist lender Stamford Finance have completed a £5.7m bridging loan secured against two high-value mews properties in central London.
The loan was arranged to refinance the existing debt on the properties. Corey Dennis, senior broker at Arc & Co., and Peter Beaumont, director at Stamford Finance, structured the deal at 75% loan-to-value (LTV), significantly above the average leverage typically available for this asset type.
The properties, located in a prime central London location, have been affected by broader market pressures in recent years. Higher interest rates have reduced the pool of domestic buyers, while changes to stamp duty have contributed to a slowdown in foreign investment. Against this backdrop, the financing solution was designed to preserve the borrower’s equity while extending the timeline to facilitate a successful sale in what is expected to be a recovering market.
Anderson Wilde and Harris provided the valuation reports. Stamford Finance utilised an existing report, which contributed to an expedited completion.
Arc & Co., which works with more than 80 lenders each year, sourced the lender based on the specific needs of the borrower rather than relying on past patterns. Corey Dennis sought out a provider that could offer flexibility, ultimately securing terms that exceeded standard market expectations.
“It was important to carefully manage the incoming and outgoing lender dynamics in this case, and we ensured that we arrived at the best outcome for the borrower,” said Corey Dennis, senior broker at Arc & Co. (pictured right) “High value units in central London are not readily supported by lenders, especially not above 70% LTV, but Stamford Finance really came through on their promise of being a lender that can take a pragmatic view when it comes to increased leverage.”
“We remain committed to supporting the ever-changing bridging and development market in the UK,” explained Peter Beaumont, director at Stamford Finance (pictured left). “Every borrower requirement is different, and working alongside a brokerage as proactive as Arc & Co. gives us the chance to be able to showcase what we are capable of doing as a private lender, exercising pragmatism and flexibility alongside speed of execution.”
