London land deal
We recently closed on a deal in London that we had been working through for the better part of 5 months. The biggest delay was an inexperienced / overwhelmed solicitor that was clearly out-of-depth when dealing with large experienced lenders that require very specific reporting detail before they will advance monies.
A senior debt lender approached us to offer a short-term solution for the client to allow them to access funds on existing land assets. This would allow the client to continue to complete a larger deal. We were able to source a niche agri-lender that advanced monies on a 12 month bridging loan to allow the client and senior debt lender to continue their acquisition of a major operating business.
During legal review, a number of queries arose from the history of the land. With the solicitor at a loss for a route through the queries, we were able to help the client navigate the reporting and with our direct relationship with the lender, we were able to propose and secure a solution that satisfied both lender and borrower.