Century Capital have proved they are very much on song after helping an up-and-coming musician to fund a new home studio at the same time as home improvements were made.
The company say they pride themselves in their status as a "fast, flexible and reliable bridging lender" -- and when you look at the three most recent examples of business it's easy to see just how adaptable they can be.
From helping a client kickstart a new hedge fund, to providing finance for the redevelopment and conversion of a barn in a picturesque country setting, Century Capital can perhaps be confident in their boast that they have "adopted a streamlined approach to lending, building bridging loans around the specific needs of the end client".
This was certainly the case when the ambitious musician was looking to raise in the region of £300,000 against a £3million Notting Hill, London house behind a small 1st charge mortgage to fund the aforementioned improvement works and in so doing create a new home recording studio.
A Century Capital spokesman explains: "We were pleased to assist in the growing career of this exciting young talent! The loan was completed at 30 per cent LTV on an equitable charge basis. The ownership was via a BVI trust which we were quick to get comfortable with. With a wide range of exits available, from record contracts to the fall back of straight forward refinance, Century were quick to complete this loan and continue to build on our strong and diverse portfolio."
Meanwhile, when the company were asked to complete a sizeable loan in just two weeks they were quick to swing into action. It all came about when Century Capital completed a £700,000 equitable charge loan at 65 per cent LTV on a prime house in Hampstead, London, for a returning client.
"Our funds were used to kickstart the client’s new Hedge fund at a time where conventional upstart funding is harder than ever to come by. We were able to complete the loan in around two weeks, all whilst our client was jet setting round the world drumming up investment for his new business. Another great example of our asset focussed approach providing our HNW clients flexible and timely funding for their businesses."
And while not strictly a development lender, Century Capital was able demonstrate their flexibility in completing its funding of a redevelopment of an old country estate in West Sussex.
The country estate to be split up and sold in separate parts. "Whilst not strictly a development lender, we were able to rely on incremental valuation updates, with the LTV kept around the 65 per cent mark, to eventually lend a total of £2.2million against the property.
'Much of the site was sold off as different parts were completed over the last 18 months, with the final three properties – three holiday cottages created out of a large, characterful barn with stunning South Downs views – now funded to completion and about to hit the market with local agents. We couldn’t be happier to have assisted this local developer, and a regular client of Century Capital."