LHV Bank has successfully funded a £7 million loan for the acquisition of a substantial residential investment property in Surrey. The property, previously converted from an office building, was acquired by an experienced property investor.

The loan arrangement was introduced by Alex Haffner of Fusion Funding. The client had secured a competitive price contingent on rapid completion. To meet this requirement, LHV Bank utilised title insurance to speed up the legal process and collaborated with the existing valuation firm, reducing the time needed to finalise the transaction.

The bank accepted an unmortgaged property as the borrower’s security instead of cash, completing the deal in just 36 days from credit approval. The £7 million interest-only loan is fixed for five years with a loan-to-value (LTV) ratio of 70%.

Conor McDermott, Director of SME Lending at LHV Bank, commented, “The case demonstrates our appetite for providing large loans to experienced property developers.”