The deal exhibits a loan-to-value of 72% and has been secured on two high-end period properties located in prime central London postcodes for a term of 24 months.
Omni Capital revealed that the case had a number of unusual legal, title and tenancy issues. The lender also had issues with the first mortgagee’s initial refusal to grant consent to Omni Capital’s proposed charge.
Brightstar and Omni Capital said that by working together; the two were able to resolve the difficulties of the case, delivering a highly satisfactory outcome for the introducing broker and their client.
Rob Jupp, managing director of Brightstar Financial, said: “This certainly wasn’t a straightforward case and needed significant involvement by all parties. Well done to Colin and all at Omni Capital for their delivery on this.”
Colin Sanders, chief executive officer of Omni Capital, said: “This particular case is a text-book example of how the distribution chain can work to best effect. Through a combined and determined effort, significant obstacles were overcome with minimum fuss to achieve a positive result for all parties concerned.
“In our relatively modest way Omni Capital is proud to be helping alleviate the serious liquidity problems faced by many deeply frustrated would-be borrowers.”
Sanders added that since re-launching its lending proposition in September, Omni Capital had seen a steady flow of high quality applications from key partners such as Brightstar.
He said: “They receive our complete and considered attention to ensure a speedy and hassle-free completion.
“I’d like to thank Rob and his excellent team for their continued and unstinting support and we look forward to taking our relationship onward to its next level.”