Avamore completes two 70% LTV exit bridges with same borrower

Avamore Capital has completed two exit bridges for the same borrower and broker within a month, with both deals at 70% LTV equating to around £1.2m.

Due to the level of detail that went into the first bridge, Avamore said the second transaction completed in just four working days after terms were agreed.

The properties, located in Guilford, had been refurbished into three and four-bedroom semi-detached homes, with timely completion important for the borrower on the second bridge.

Funds were required to purchase another site for which the deposit had already been paid and Avamore suggested that had it not stuck to the borrower’s timeframes, the borrower may have lost his initial deposit.

Head of underwriting, Philip Gould, commented: “This transaction perfectly demonstrates our customer centric approach. We acted quickly to adhere to the borrower’s timelines which mitigated potential financial losses and we took a commercial approach to ensure the borrower could get his funds.

“We’re pleased that we were able to perform for both the borrower and the broker in such a short space of time and are looking forward to doing more with them both in the future.”

PF&D owner, Keith Forster, introduced the deal to Avamore and added: “Working with Avamore on this transaction was the correct choice for us as a broker. Not only are their terms competitive but their legal team were able to overcome hurdles around a complicated title to enable completion of this second transaction for our client.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?

The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.

Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?



In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.

The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.

In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.