Oblix Capital complete on £2.04m loan
London based specialist property lender Oblix Capital has completed a £2.04 million development loan, helping fund the construction of 12 new-build apartments, in the southern town of Haywards Heath.
The loan itself was agreed on a 17-month term at an LTGDV of 63%, giving the developer the optimum amount of time to construct and sell all 12 apartments.
This completion follows on from a consistent growth period for the lender having received nearly £50million of applications in August - surpassing all previous monthly application records.
Andy Reid, Sales Director at Oblix Capital said:
“This latest completion typifies a very successful growth period for the company. We’ve been meeting the market demand with property finance that is equally agile yet reliable - forging some fantastic relationships with brokers and developers alike. A big thank you goes out to the exceptional team here at Oblix Capital, who have all been tirelessly pulling together and taking the business to new heights.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
Nationwide
FCA fines Nationwide £44m for inadequate financial crime controls
Inflation
Bank of England set to cut rates as inflation falls to eight-month low
FCA
FCA announces new measures to support growth of mutuals sector