FOLK2FOLK has just completed its largest loan to date this year – a £7.5m loan to be drawn down in two tranches. The loan was required by a 400-acre Scottish estate seeking funds to refinance an existing loan and to fund infrastructure costs for 66 individual self-build plots prior to sale.
FOLK2FOLK is seeing continued strong investor appetite and the first tranche of £6.75m has been funded by 172 investors, a combination of our loyal repeat investors and also some investing via FOLK2FOLK for the first time. Of the initial tranche, £1.3m is funded by Innovative Finance ISA investment.
A key factor for investors was how FOLK2FOLK structured the deal to guarantee the first 18 months’ of interest. The spread of sectors covered by the loan, reducing reliance on any one sector, was another aspect giving FOLK2FOLK investors confidence in the current economic climate.
The success of the deal lies in FOLK2FOLK’s ability to view each deal as unique and understand the distinct intricacies that each present. In addition, we know that hard work, teamwork and positive attitudes are essential when it comes to collaborating with Brokers to help British SMEs gain the finance they need and to keep the economy moving.
The Head of Specialist Lending at Enness Global Mortgages praised the FOLK team for all their hard work and “always making dealing with them an absolute pleasure”.
£7,500,000 to be drawn down in two tranches
Enness Global Mortgages
Loan to refinance an existing loan with another lender and to fund infrastructure costs for 66 individual self-build plots prior to sale.
A £7.5m facility for a period of 3 years against the estate value of over £18m.
A 400 acre Estate which operates as a country club, hotel and award-winning Golf Course and includes:
Max 60% Open Market Value