Overview
Silver Oak Capital arranged a £4 million bridging facility secured against a prime central London residential property valued at £8.5 million. The borrower had been on an existing bridge-to-sale facility which had reached the end of its term without a sale being achieved, and required urgent refinancing onto a new 12-month facility to avoid any default under the incumbent loan.
Challenges
With the existing facility approaching maturity, timing was critical. The borrower needed a new lender to move quickly, complete due diligence efficiently, and fund in time to repay the outgoing lender, leaving no room for delay.
Solution
Silver Oak Capital moved immediately on being instructed, going to market to identify a lender with both the risk appetite for an Leveraging our direct lender relationships, Silver Oak Capital identified and engaged Octane Capital, who demonstrated exactly the pace and professionalism the situation demanded. We managed the process end-to-end, keeping all parties aligned and the timeline on track.
The loan was completed within four weeks of instruction, at approximately 47% LTV.
Outcome
The existing facility was repaid in full and on time. The borrower secured a clean 12-month bridging facility, providing the runway needed to achieve a sale at the right price. This transaction is a strong example of Silver Oak Capital’s ability to act quickly under pressure and deliver when timing is critical.
We would like to thank the team at Octane Capital for their responsiveness and professionalism throughout, their approach was instrumental in achieving a smooth and efficient completion.
Please do not hesitate to get in touch should you wish to discuss this transaction or any current financing requirements.
