Property Reporter

"This is a new borrower relationship and we worked with our client to execute this transaction in 4 weeks from enquiry to completion"

- Rav Kudhail - Atelier

Atelier has completed a £12.4m development loan to fund the creation of 60 new apartments in Streatham, South London.

The loan is structured at 66% LTV over an 18-month term and follows Atelier’s recent £8.7m funding of a residential development in Lewisham, marking the lender’s second London loan completion in as many weeks.

The client had already undertaken over £300,000 worth of work to remodel the five-bedroom, four-bathroom detached house in Streatham, London and required the funds to exit an existing finance deal as well as complete the project before marketing the property.

Aspen took the initiative and used a previously issued valuation report to get the loan proceeding swiftly and efficiently with funds released on the required day, thereby avoiding any penalties imposed by the previous lender or work delays.