Hampshire Trust Bank (HTB) has successfully completed a £2.1m development exit facility for a newly constructed block comprising six flats in Ealing, West London.

The developer required the facility to repay an existing development loan and raise an additional £225,000 for further investments.

The case presented a number of complications, including the client’s non-UK nationality, a mid-process change in the borrowing entity and several other challenges.

Complicating matters further, the client’s instructed valuation faced repeated delays and the necessary building regulations had not been fully approved.

The broker, Residential Home Loans, approached HTB in order to handle the case.

Despite building regulations not being fully finalised, HTB moved forward with the offer, including specialist conditions to address this.

The HTB team also worked closely with the valuer using photos and videos of the finished development to avoid the costs of a third valuation.

Sales director for bridging at HTB, Lorenzo Satchell, said: "This case demonstrates why HTB has become the go-to lender for brokers and investors looking for bridging loans.

"With such an incredibly capable team, who have the freedom and authority to resolve issues quickly, we worked around the clock to ensure the best solution was delivered.

"By being creative we’re able to support a greater number of borrowers, and more importantly, ensure brokers understand just how capable we are when faced with complex cases."

Managing director at Residential Home Loans, Tony Hughes, added: "The complex elements to this facility had all the hallmarks of a typical case we receive as a broker, and these are the types of transactions I love working on to provide the best possible outcome for my clients.

"From start to finish we worked closely with the HTB bridging team who acknowledged the challenges around the transaction day one. It was a case that called upon all the resources within the HTB bridging team to get this deal over the line, which meant it was an incredibly satisfying deal to complete.

"The swift and effective resolution of this case highlights the exceptional service and dedication that HTB consistently provides to brokers and their clients."

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