“The great thing working with Tom and the team at Momenta is that they will always try to find the best solution to get a deal done. In this case we were up against genuine time constraints, and they were up for the challenge. A great outcome for my clients, who otherwise would not have been able to get their project on wheels.” – Conrad Robins, Commercial finance broker and Director of ASC
Bridging Loan supports Cornwall property developers with expeditious equity release
This case study showcases how Momenta Finance, working alongside knowledgeable brokers such as Conrad Robins from ASC Finance for Business, can provide tailored financial solutions to meet borrowers’ needs with a quick turnaround from application to Bridging Loan pay out.
The Client
The borrower is a family of agricultural specialists & property developers operating in the Cornwall area, possessing a portfolio of commercial and residential investments. They had obtained planning permission to construct a new house on one of their farms but required funding to initiate the project.
The Challenge
The broker recognised that releasing equity against their existing assets would be more efficient than obtaining a small development facility for the project. They needed a flexible financing option that would allow them to leverage their current property portfolio while embarking on this new venture.
Familiar with Momenta Finance’s reputation for flexible lending solutions, Conrad assessed the family’s situation and recognised that a bridging loan would be the ideal solution to meet their immediate needs while providing time to arrange long-term financing.
After careful consideration, Momenta Finance provided a tailored bridging loan with the following terms:
- Loan Amount: £245,000
- Loan Term: 12 months
- Interest rate: Fixed
- Special feature: No exit or early repayment fees
Fast Processing
One of the standout features of this transaction was the speed at which Momenta processed the loan. The entire process was completed in under two weeks, allowing the borrower to access the funds quickly and begin construction without delay.
The Outcome
Thanks to the broker’s insight and Momenta Finance’s flexible lending approach, the borrower was able to:
- Demonstrate their ability to manage diverse projects, enhancing their credibility for future developments.
- Commence construction on their new house project promptly.
- Maintain control over their existing assets while expanding their property portfolio.
The Broker’s Perspective
Conrad Robins who introduced this opportunity to Momenta Finance commented:
“The great thing working with Tom and the team at Momenta is that they will always try to find the best solution to get a deal done. In this case we were up against genuine time constraints, and they were up for the challenge. A great outcome for my clients, who otherwise would not have been able to get their project on wheels.”
Conclusion
This case study highlights the importance of strong relationships between brokers and lenders like Momenta Finance. By leveraging the broker’s local knowledge and Momenta’s flexible lending capabilities, we were able to provide a solution that perfectly met the client’s needs. This collaborative approach continues to support the growth and diversification of property portfolios across the UK, benefiting brokers, lenders, and clients alike.
About ASC
ASC is an independent business finance broker that helps ambitious and hardworking business owners throughout the UK to obtain commercial, business, and property finance. With over 20 offices nationwide, there is always a local director to assist. Whether in need of large-scale funding for significant renovations or for simpler refurbishments, ASC can help with development finance, new building projects, and bridging and short-term finance for developers, among other services. There is an increasing interest in property development finance, and ASC is well-versed in identifying suitable lenders.
