Our borrower (who was based in Saudi Arabia) had exchanged these apartments off-plan and was then served with notice to complete which left them very little time to arrange term finance. New build in Battersea is an asset class many lenders are avoiding (due to concentration). We visited and liked the security properties. Funds were provided in time without a formal valuation. The loan was repaid via refinance.
£3.126m secured against 2 x new build apartments
