Lendhub provided a £10.3m bridging facility at 52% LTV against a residential portfolio of 44 units across 10 Victorian and Edwardian buildings in Notting Hill. The portfolio had been held in the same family for three generations.
The bridge served two functions: to refinance the incumbent lender to halt receivership proceedings, and to provide the borrower with sufficient runway to restructure the debt and onboard a new long-term mortgage provider. The deterioration of the relationship with the incumbent lender had stemmed from a series of internal stakeholder disputes. The bridge was made available once those disputes were resolved.
The loan was drawn within two weeks of terms being agreed and repaid within its original 9-month term, with the borrower exiting onto a long-term mortgage and retaining full ownership of the portfolio.
Introduced by Tom Straw and Oliver Mann of RSM Group LLP.
Delivered by Lendhub's Structured Finance Team
Francesco Prelorenzo and Theo Goodman
