Albatross specialises in providing short term bridging loans for borrowers of all shapes and sizes on a case by case basis. We offer personal, flexible and efficient solutions to meet your funding requirements. We understand that each proposal is unique and must be assessed on its own merits. Albatross is proud to offer a rapid approval process enabling us to complete transactions within very short time scales.
Our non regulated bridging loans are available against assets in England and Wales, to borrowers from all over the world. We lend to individuals, UK Limited companies, as well as overseas borrowers including complex off-shore structures. We will consider PEPs, adverse credit applications, lending to trusts, third party charge enquiries, and much more.
Monthly interest servicing is available, as well as retained interest, depending on the customer’s needs. In some cases where there is adequate security, we do not insist on a full professional valuation.
Albatross was approached to supply an equity release facility against a part built mews house in West London. Works to the property however were in full swing, where the customer was self funding the project to completion. Our funds were being used to support cashflow for other ongoing projects within the portfolio. Typically, lenders will require quantity surveyors to monitor the ongoing works but given the quality of the customer in question, Albatross has been able to rely on our own site visits, pictures and project updates from the customer.
We provided a day 1 advance of £1,105,000 against a £1,700,000 valuation, as well as keeping a further £246,250 in retention to support further works and cash flow constraints across the portfolio during the term of our loan.
Practical completion has now been achieved, where we estimate a GDV figure in the region of £2,500,000.
As a sole trading developer, my main focus is put my energy in to carrying out exceptional schemes. Over the years, I have kissed many frogs when it comes to borrowing money; you either get a lender too wrapped up in red tape to be able to provide the speed and flexibility that I need, or a lender who doesn’t fully understand the inevitable ups and downs of property development in order to get to the finished masterpiece.
Albatross have been like a trusted business partner to me for several years now and they play a large part in the success I have had commercial. Cannot recommend enough.
Like many, I found myself up against it, financially, during the covid 19 period. I was faced with a business debt that required immediate payment, but my funds available were limited.
Fortunately, my broker introduced me to Albatross. They met me almost immediately on the site of a small barn and vacant barn conversation that I own and rent out on a holiday let basis. Given the urgency, we instructed legals at the time of meeting and they provided me with funds within 48 hours, ensuring I settled my payment on time. I will be forever grateful for both their speed of initial delivery, and service and understanding throughout the loan term.
I have been supporting Albatross with loan applications since their inception, and some 8 deals later they continue to be my ultimate lender of choice. I particularly relish the fact I can call the office and speak directly to a decision maker; they don’t always say yes to my deals, but I equally appreciate the quick no’s.
A lender who is able to be as commercially minded and efficient as Albatross is a lender who’ll go very far.
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