Wellesley Finance, the development finance and bridging loan specialists, today announced the completion of a £14 million bridging loan introduced by award-winning packager, Positive Lending.
Graham Wellesley, Chief Executive at Wellesley Finance, commented:
“Since the Brexit vote, property developers and their introducers have been facing an uncertain finance market, with lenders taking a more cautious
approach to property finance. However, Wellesley Finance continues to support the sector with a number of major development and bridging loans closing over the summer.
“We are delighted to have today completed the largest of these – a £14 million sales bridge loan for a property development in the south east of England – following an introduction from Positive Lending, a key strategic partner of Wellesley Finance.”
Chris Fairfax, Managing Director at Positive Lending, commented:
“Having conducted due diligence on the developer and reviewed our lender panel, we approached Wellesley Finance due to their experience at structuring large bridging loans. We worked closely with their lending team and have ensured that the client received the very best loan outcome available to them. I have nothing but praise for the Wellesley team – at all times they have been responsive, efficient and a pleasure to work with.”
Peter Hudson, Business Development Director at Wellesley Finance, added:
“Positive Lending has built a strong team who genuinely understand development, bridging and buy to let. They push hard to ensure the right deal for the client and keep the original introducing broker fully informed at every stage.”
Sebastiano Carrelli, Senior Lending Manager working on the case at Wellesley Finance, said:
“Right from the start, the clients presented themselves as highly knowledgeable and credible individuals who demonstrated their intimate knowledge of the micro-markets they operate within. We spent time understanding their business and, by listening to their needs, we were able to structure a flexible finance solution, which we believe will prove to be the first of many in this burgeoning relationship.”
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