The joy of six! CEO Paul Munford’s delight as Century Capital completes six deals in as many days

Brian West

30 May 2017 16:30 GMT

Century Capital CEO Paul Munford has heaped praise on his team after reflecting on a hugely successful week in which the company facilitated six deals in as many days.

The bridging lender was able to provide an astonishingly quick turnaround displaying admirable flexibility to complete six varied facilities --each one bespoke to the client’s needs -- within just six days.

And it prompted Munford to offer congratulations on the great levels of service afforded to the clients, who benefitted hugely from an incredible efficiency and resourcefulness to expedite the business.

He said:“We have recently increased our credit team for exactly this reason. We are super equipped to handle all sorts of volume levels and different types of transactions."

"Our key USP of excellent service levels has been proven by the speed we can turn around deals. More and more brokers are coming to the conclusion that Century is the brokers friend. Century is the lender that delivers 100% of the time great satisfaction.”

The 6 deals included:

A historic British House, a Grade II listed building dating back to 1700S which required funds for restoration. This impressive property boasts a well-known house hold name as a past resident and breath-taking scenery. The LTV for this deal was 48.1%.

A period style modern family house in Cambridgeshire, with the area boasting a strong housing demand and the sale of the asset being the exit, 35% LTV was required to finance the purchasing of a second asset.

The third one was a two bed, well positioned London flat. The young entrepreneur wished to release equity to provide a cash injection into his business and thus bolster purchasing power. The method of reimbursement was the sale of the asset and the LTV for this deal was 70%.

A West Sussex property required the release of equity to repay existing obligations, on which high levels of interests were accruing with the sale of the appealing lodge being, the exit. Century provided a 6-month term at 60% LTV with the option to repay early.

A 12-month term at 65% LTV against the residual value was required for a property valued at £1.35M in South East London with plans in place to transform the asset into a mixed-use scheme. The deal was fast tracked to completion given the desirability of the asset location and decision in principal to support the exit.

A British Virgin Islands Company secured capital for a £4.25M East London dwelling on a second charge at 65% LTV. The equity released was used to boost short term cash flow. Century Capital delivered and signed off the facility given the impressive nature of the clients residence, supporting estate and a pending asset sale.

Nick Hilton, Head of Lending at Century Capital, said the alacrity of deals came about through the company's commitment to service.

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