The residential investment loan was against properties comprising one and two-bed flats that will be let out by Mantra’s client, primarily to young professionals
Specialist lender, Masthaven has rolled-out of its Bridging Plus short-term lending product to the wider market, following a successful soft launch with key brokers.
Together increased quarterly lending volumes to a record high of £422m, while maintaining a loan-to-value of 58.8%.
Parsons was a co-founded of the business but for contractual business can only now be confirmed.
Octopus Property has targeted lending in excess of £1bn in the year to May 2019 and sees commercial and buy-to-let as its growth areas.
Bridging lender, Mint Bridging has today moved offices, having taken a 5400 sq ft office suite in the newly refurbished Atlantic Street Business Park in Altrincham, Greater Manchester.
Gareth Lewis has left Precise Mortgages, where he was director of bridging, to become commercial director at short-term finance lender, mtf.
The loan facility, secured against a completed 46-unit office-to-residential PDR (‘permitted development rights’) scheme in Essex with a value of £12.3m, also incorporates £1m of equity release for the client to provide cash flow for future projects.
Specialist property lender Octopus Property has promoted Gavin Eustace to head of residential development.
These include commercial, semi-commercial, buy-to-let, HMO and bridging products, offering advisers access to lending against a wide range of property types, both to investors and trading businesses.