Century Capital completes three deals over £8million
Posted on Fri, May 01, 2020 by WebsiteAdmin
Century Capital has demonstrated continued resilience by overcoming the current market challenges and completed three deals in one week.
Century Capital has demonstrated continued resilience by overcoming the current market challenges and completed three deals in one week. The three latest transactions, that took place at the end of March, are a testament to the agility of Century Capital and the strength of their broker relationships in these unprecedented times.
Beauty in Belgravia
The first deal was to provide a facility for the renovation works to a substantial residential property in Belgravia. The advanced facility of £500,000 was in addition to an existing £7m loan to a foreign national. The renovation works will take the GDV of the property to over £30million.
North London development project
The second transaction was for a £700,000 facility secured against a detached residential development project in North London. The second charge loan was provided to fund final planning costs for a development site in Kings Cross with a GDV totaling £40million.
The final deal was to finance a second charge loan against a £2million pied-a-terre in Chelsea. The £400,000 second charge facility was taken against the Chelsea townhouse to invest in JV opportunities in the Buy to Let sector.
What we had to say about it…
Paul Munford, CEO of Century Capital, said: “We have been impressed with how responsive the broker network has been to current market conditions. It demonstrates that our introducers understand the scale of the present dislocation and take that into account when considering which lenders to recommend. It is certainly not business as usual at Century Capital, but as an agile and flexible business, we have adapted to the challenges presented and successfully overcome them.”
Luke Navin, Head of Lending at Century said: “Century is currently focusing on a more select number of deals in order to maintain our efficient transaction timescales. Our broker network has been highly professional and collaborative and relationships with our key introducers have strengthened as we continue to deliver our world-class customer service to our clients in these challenging times.”
Get in touch with the team…
The Century Capital team will be available by phone, email, and video conferencing and will continue to provide market-leading finance across the real estate sector with unrivalled levels of service.