Hampshire Trust Bank (HTB) has completed a £7.5m development exit facility for a large North West property developer and rental company.
The 70% LTV loan will allow the borrower to refinance their existing debt and will provide a 12-month period to sell the property, a 34-unit apartment block in Manchester.
The deal was introduced to HTB by Gareth Butler, senior commercial manager at Watts Commercial Finance.Jamie Jolly, director of bridging at HTB (pictured above), said: “This completion clearly demonstrates that our approach to bridging finance works — we look to provide a personal touch to all cases and positively promote access to the key people within our team.
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