Crystal Specialist Finance completes £5.4m expat rebridge in 15 days

23-Jul-2019

An ex-pat borrower has boosted the value of a luxury apartment in central London after completing a £5.4m re-bridge with Crystal Specialist Finance (CSF).

The Monaco-based businessman required the funds to clear an existing £5m bridging loan, with the remainder paying for a substantial refurbishment of the flat.

Once completed, the work should see the property’s value rise from £10m to £12.5m.

As the client is an ex-pat and the asset owned by an offshore limited liability company (LLC), CSF worked with specialist lender Together which approved the application following an offshore opinion and provided the funds within 15 days.

Jo Breeden, managing director of CSF, said: “The deal was in an area of strong purchase demand. The client had a solid exit strategy, and we knew that Together was the right lender to complete such a specialist overseas applicant case to the very tight timescales.”

Marc Goldberg, commercial CEO at Together said: “We have a long-standing relationship with Crystal and were more than happy to look at this latest complex case. It was expertly packaged, making it easy for us to take a view on whether we could provide the finance needed. The fact that we were able to make a quick decision meant a great outcome for us, our partners at Crystal and their client.”