Drawn down in 12 days
Client was looking to acquire a strategic piece of land supporting the growth of the borrower’s established logistics business.
The borrower’s bank had declined to release further advances due to a policy change, cutting back on property lending despite a low LTV on the existing facilities.
We were approached with a portfolio of 9 residential properties in South Yorkshire as security for this facility. Valuations were immediately arranged, taking place on a Saturday with SDKA’s MD, Kunal Mehta in attendance. Our panel solicitors were engaged with SDKA throughout, working evening and weekends to ensure the deadline was met.
The facility was drawn down within 12 days of receipt of the signed offer in principle allowing the land purchase to go ahead.