Award winning property developer Guy Phoenix approached Castlehill Capital to assist with a refinance of The Hermitage – his stunning 7 bed state-of-the-art house in Edwalton, Nottinghamshire.
The luxury property market has been hampered by the ongoing Brexit negotiations. The Hermitage had received offers but the borrower required more time in oder to fulfil the property’s true potential.
With the buying season over, it made sense to refinance the property and wait until spring next year to sell.
Castlehill Capital quickly arranged a net facility of £4.2m over 12 months. Aided by the speed of the borrower’s solicitors – Castlehill were able to complete the loan in 10 working days.
A quick bridging loan which also reduced the monthly interest payments the borrower was servicing.