Lancashire bridges £11.25m
Lancashire lent £6.25m to develop 550 acres of land and a number commercial buildings, while it also lent £5m to a London property developer in five days to buy large central London investment property.
Gary Bailey, sales director at Lancashire Mortgage Corporation, said: “These cases reflect our ever increasing appetite for larger loans, which has been demonstrated in our lending figures over the last 12 months.
“The commercial building case was unusual as the applicant had set up a special purpose vehicle entity for an offshore company, a factor which may have resulted in other lenders refusing to finance it.
“However, our common sense approach to lending and commitment to supporting the growth of our commercial clients meant we were able to find a solution that was right for the client.”
In both cases LMC reviewed, approved, agreed the terms and instructed solicitors within 24 hours.
Chris Evans, director at James Evans Financial Services, said: “These were unique cases and we were pleased to be able to work so closely with a lender whose knowledge and experience enabled us to find a positive outcome for a fantastic client.
“We look forward to developing our relationship with Lancashire Mortgage Corporation to support the commercial needs and ambitions of our clients in future.”