Hilco completes fast £1.5m bridge for care home provider

Published on

Hilco Real Estate Finance (HREF) recently provided a rapid £1.5m bridging loan to a national care home operator.

The borrower was a repeat customer which had borrowed from Hilco the previous year and this loan was against another asset in the borrower’s portfolio.

The customer had an extremely urgent need for funds due to an unforeseen expense. Hilco completed the £1.5m loan within two weeks, taking security over an unencumbered 65-bed care home in Cambridgeshire. The home was in the process of a turnaround plan and the Hilco team’s considerable experience of the care home sector enabled it to take a holistic view of the situation and extend finance.

Adrian Hogan, director at HREF, said: “We always look to build long-term relationships with our borrowers. This particular borrower has funding from multiple specialist lenders.

“It’s extremely gratifying that they chose Hilco when faced with this urgent cash requirement, knowing that they could rely on our speed, flexibility and, crucially, our certainty of completion.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Knowledge Bank unveils affordability calculator for brokers

Knowledge Bank has broadened its scope beyond criteria with the launch of a new...

South drives first annual asking house price fall since 2024

Asking prices for homes in Great Britain have slipped into annual decline for the...

Rents fall as inflationary pressures mount

Tenants are beginning to feel some respite as rents across Great Britain fall at...

Bank of England set to hold rates as inflation proves sticky

The Bank of England is expected to hold interest rates at 4% this week...

Mortgage pros stride for mental health on Thames Bridges Trek

Mortgage industry pros from Crystal Specialist Finance, Market Financial Solutions, Movin Legal, MT Finance, United...

Latest publication

Other news

Knowledge Bank unveils affordability calculator for brokers

Knowledge Bank has broadened its scope beyond criteria with the launch of a new...

We need clearer guidance on Stamp Duty advice

Just over a week ago Angela Rayner resigned following the discovery of a Stamp...

Getting to know you: Saul Conway, AS Financial

Name: Saul Conway Age: 45 Location: London Qualification Year: 2003 Firm: AS Financial Specialty: Financial Services Entrepreneur Education: Honours Degree...