Fast, flexible and forward-thinking people

Case Study Location: London Borough of Greenwich, London SE10
Date: January 2017
Example of: Bridging Finance

Project:

To provide funding of 65% LTV at £195k against a market value of £300,000 - although the property had been bought off-plan for £250,000.

Challenge:

A new client came to Amicus to secure funding on an investment property in Greenwich that they had bought off-plan in 2014. With the property now built (and increased in value by 20%), the client had already approached another lender for funding - but they would only lend against the purchase price of £250,000 and not the new market valuation of £300,000.

Outcome:

We demonstrated flexible criteria and vision to lend against open market value when another lender had let our client down. Our people were also able to collaborate with the client's solicitor to get the purchase quickly back on track and completion was achieved swiftly. This prevented the client from potentially losing the property and their deposit. It was the first time that the client had used Amicus and they were impressed with the speed and personal service they received. They have already returned to Amicus to progress their next deal.

Many thanks to the team at Amicus Finance for understanding my finance requirements and guiding me through a smooth transaction. I found the Amicus team very approachable and the quality of service was high. Amicus extensive knowledge of property finance proved very helpful in overcoming obstacles. I highly recommend Amicus!

Yeliz Polat, Client