The borrower will use the loan to refinance their current private bank facility on the property, as well as complete the heavy refurbishment works necessary to make the property habitable.

The 20% LTGDV loan — brokered by Amadeus Wilson, director at SPF Finance (pictured above) — was agreed at 0.85% over a 12-month term.

The client plans to refinance with another private bank once the renovation works are completed.

Amadeus said: “Since MT Finance launched its regulated arm, we have been seriously impressed with its processes and abilities as a lender.

“We know we can rely on the team to pull out all the stops, whether our client needs to borrow less than their minimum loan size or more than their previous maximum.

“MT Finance is one of our top finance providers for regulated bridging, and we are delighted that we are in its top tier of introducing partners.

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“We anticipate our volumes of business will continue to increase as our relationship goes from strength to strength.”

David Kingham, underwriter at MT Finance, added: “This case had its fair share of complexities, but through daily communication with Amadeus, we were able to overcome each and every hurdle to ensure the target completion date was met, achieving the best outcome for the client.

“Working with the team at SPF is always effortless; having everyone involved all on the same page made what could have been a difficult transaction a real pleasure to work on.”

Raphael Benggio, head of regulated underwriting at MT Finance, stated: “Our regulated bridging proposition has been well received, and this completion is yet another example of the strength of our relationship with SPF.

“There is a great synergy between our teams and the swift completion of our largest regulated loan to date is testament to the partnership we have built.”