Developed by Prisma Property Developments, 47 units in the Mayflower and Bluebell House blocks of Harlow Flats will now open their doors to residents.

The deal for the five-year residential property investment loan was led by David Burke, relationship director at STB REF, and the bank’s existing working relationship with both the borrower and broker was key to sealing the deal within a space of three months.

Raj Shah, director at Prisma Property Developments, said: “Harlow Flats is the latest addition to a thriving area, and we are proud to provide stunning accommodation to its newest residents.

•   What's in store for the bridging and commercial markets in 2024?
•   Atom bank slashes commercial mortgage rates
•   House prices continue upward trend while the industry suggests that 'the property sector is showing signs of recovery'

“Harlow is one of the most accessible commuter towns for reaching London, all while playing host to several excellent leisure, entertainment, education and shopping facilities.

“Having previously worked with STB we were confident that, even with its complex nature, the deal was in the right hands.”

David added: “When we were first approached by the broker, we immediately knew the role we could play in helping to refinance a portion of the development’s contemporary apartments.

“With years of experience in property finance, our team’s expertise allowed us to successfully complete a complex deal.

“Our tailored approach was essential to getting the deal done, and we are over the moon to see the apartment blocks open their doors to residents.”