Stamford Finance completes £1.4m across Windsor and Glasgow

Stamford Finance has completed two capital-raising loans worth a combined £1.4m on the same day, secured against a luxury home in Windsor and a development site in Glasgow.

Both deals let the borrowers unlock equity from assets they already owned, rather than funding a purchase.

Windsor: four days to completion

The first loan, for £450,000, was secured against a luxury single residential property in Windsor. The borrower is using the funds to pay for refurbishment work on a different property.

The deal completed in four days. A key factor in the speed was that no new valuation report was needed, which removed one of the most common sources of delay in a bridging transaction.

Glasgow: restructuring after a down valuation

The second loan, for £950,000, was secured against a debt-free site with planning permission in Glasgow. The borrower is using the funds to support cash flow across their businesses.

The deal hit a hurdle when the valuation came in lower than expected. Rather than ask the borrower for extra security, Stamford reworked the original structure to release as much equity as possible from the site alone. It increased its position to its maximum gross LTV of 65%, which allowed the deal to go ahead.

Gross LTV includes interest and fees added to the loan, as well as the cash released, so this was the full extent of what the lender could offer against the site.

A practical approach

These two completions demonstrate our ability to take a pragmatic approach.

Peter Beaumont, Director at Stamford, said both deals showed the lender's willingness to adapt facilities when needed and move quickly to get transactions over the line.