Hampshire Trust Bank has completed £1.15 million of bridging finance for an overseas borrower against a property in Marylebone, London, completing the transaction in six days from formal offer to drawdown.
The 12-month facility will provide capital for two planned auction purchases. The deal was introduced by Afsheen Gul of Berkeley Commercial Finance and overseen by Cain Lam at Hampshire Trust Bank.
Early coordination on complex case
The accelerated timeline was achieved through early coordination between the lender’s legal, compliance and credit teams. Hampshire Trust Bank instructed solicitors at the decision in principle stage, allowing legal work to progress alongside the credit assessment.
The overseas residency status of the borrower and transaction structure required additional compliance work. The lender raised these considerations before formal submission, conducting preliminary discussions with credit teams to identify potential issues.
The formal offer was issued on 6 October, with completion occurring on 12 October. Underwriters Raj Aggarwal and Jordan Rivers supported the transaction, with Merali Beedle handling legal work.
“The six-day completion was the result of the work that happened before the offer was issued,” said Cain Lam, business development manager at Hampshire Trust Bank. “We instructed solicitors at DIP, raised the overseas residency points early and spoke to credit before formal submission.”
Bridging finance market activity
The transaction follows similar rapid completions in the specialist lending sector. Earlier this year, a lender completed a £4.5 million commercial refinance in Dorset within seven days, indicating competitive pressure on turnaround times in the bridging market.
Afsheen Gul, chief executive of Berkeley Commercial Finance, noted the speed of responses throughout the process. “With a transaction like this, that communication makes a real difference,” Gul said.
The Marylebone property serves as security for the facility, which is structured as a new-to-bank relationship for Hampshire Trust Bank. The borrower’s auction purchases are expected to be completed within the 12-month term of the bridge.
