Omni signs off jumbo bridging deals

Sarah Davidson

October 9, 2012

The first case required a second charge loan in excess of £2.6m at a loan to value of 75% secured on a property in Chelsea.

A particular complexity was that the subsisting first charge was granted as an Islamic mortgage. This required specialist legal intervention to ensure timelines were met and the interests of all parties well-served.

Completed just one week after the first, the second case was valued at £1.4m and is secured on a property in Hampstead, north west London.

It too was a second charge loan granted at a loan to value of 75% and is subordinate to a first charge in favour of a famous London banking house.

Colin Sanders, chief executive officer of Omni Capital, said: “There is no mistaking the increasing demand from brokers for high value second charge bridging finance for their property investor and development clients. Happily, Omni Capital is one of a relatively small number of short-term lenders able to meet their needs.”

He added: “Funded directly by our parent company, CPC Group, we have a distinct appetite and ability for this type of business. Working in close partnership with a brokerage of the quality of Arc & Co enables us to deliver the right outcomes for their clients denied elsewhere.”

Andrew Robinson, managing director of Arc & Co, said: “As independent advisers the success of our business is dependent on our ability to provide timely solutions to complex transactions. In these deals in particular, Omni Capital played an integral role by supporting us and the clients with their specialist knowledge and access to professional advice.”

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