Castle Trust has reported its biggest ever day, with completions totalling £17.7m, including two large loans or £5.6m and £9.7m.

The £9.7m completion was a development exit at 5.50% with a tight timeframe on an office conversion with more than 60 units in Sutton Coldfield. Castle Trust worked with Sirius Property Finance to secure the clients maximum leverage despite a complex title situation.

The £5.6m completion was a refinance of an existing loan from another lender on 21 residential apartments on one title all of which were currently let. There were additional complications with the case regarding the company structure that Castle Trust, working with Enness Private Clients, was able to overcome to complete the loan within eight weeks, with serviced term finance at 75% LTV charged at 5.77%.

Castle Trust yesterday confirmed that its application for a banking licence has been successful and has been approved by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), laying the foundations for future growth at the lender.

Nicholas Christofi, managing director at Sirius Property Finance, said: “This was not only a large case, it was also a complex one, with a title that provided access to parking spaces only on a leasehold basis. However, the hands-on approach and good communication between Castle Trust and Sirius meant that we were able to overcome the issues and find a resolution, with a bespoke solution that suited both the client and the lender.”

Chris Whitney, head of specialist lending at Enness Private Clients, said: “It was great to work with Castle Trust on this case, as it is a lender that understands large complex cases and can structure a deal to suit the client and their plans. There was a tight completion timescale on this loan and many elements to the case which needed shaping and understanding as well as flexibility within the term of the loan to facilitate the borrower’s onward plans.

“The lender met with the client on site to better understand the proposal and to discuss the terms and structure of the loan, this kind of hands on approach was beneficial to all parties and allowed for a smooth and successful transaction.”

Barry Searle (pictured), managing director of mortgages at Castle Trust, added: “It’s always pleasing to work with excellent brokers to overcome some difficult hurdles and complete a big case. To complete two such cases in one day and deliver the biggest day for completions that we have known is a really excellent achievement and testament to the hard work and tenacity of our team as well as the fantastic relationship we have with our introducers.

“It’s an uncertain market at the moment, but I am confident that we will beat this record, probably more than one as we progress through the year.”