Challenger bank secures biggest deal yet
Challenger business bank Cambridge & Counties has completed its biggest ever loan at £7.7m.
The bank was founded in 2012 and specialises in lending to SMEs.
The loan was granted to Hagley Road Properties and will fund student accommodation in Birmingham
Commercial finance broker Finance 4 Business (F4B) introduced the customer to Cambridge & Counties.
Paul Atkinson, head of mortgages at F4B, said: “We were instructed to secure a long-term mortgage to repay the development finance facility.
“Having access to an extensive range of lenders, the client and I decided to proceed with Cambridge & Counties Bank.”
The bank worked with local advisers from Freeths Solicitors and BNP Paribas on the deal which was approved and drawn down in eight weeks.