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.
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