The development exit loan, which was introduced by Mantra Commercial, was secured against a recently completed scheme that converted a commercial property into 45 residential units in north London.

The project needed some minor finishing works before being eligible for a BTL mortgage.

The client required a six-month loan at 75% LTV to complete the minor works and arrange longer-term finance.

“Completing a loan of this size demonstrates KSEYE’s ability to work with a broker to meet their client’s funding needs for anything from a standard bridging auction purchase that requires speed, to the large and complex,” said Nikes Khagram, director at KSEYE (pictured above).

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“Despite the challenging market we still face, KSEYE continues to remain flexible and pragmatic when required.”

Marcus Dussard, sales and marketing director at KSEYE, added: “Our efficient processes, certainty of funding, and deep understanding of large loans make the experience for brokers much more straightforward compared to other lenders.

“We actively encourage brokers to bring us deals over £5m, where they can benefit from our day-one approvals with no changes to our decision unless there are material changes to the deal.”

Nimesh Sanghrajka, group managing director at Mantra Commercial, stated: “Our relationship with KSEYE meant that they were top of the list to help our client.

“Getting a deal like this done in around six weeks is a testament to their flexibility and willingness to go above and beyond when needed.”