Case studies
Some of our team's past successes
Professional selectivity
Alignment of interest as proof of conviction in our selection
5-10% of the deals analyzed are retained following our selection process.
Northfin always funds the selected deals in advance of our investor offerings, so our clients know that we have conviction in our selections.
Professional selectivity
Alignment of interest as proof of conviction in our selection
5% of the transactions analyzed are retained following our selection process.
Northfin invests its own cash in every transaction to ensure alignment of interests with private investors.
c. £150m
transactions seen per annum
10%
average co-invest per loan
50+
origination partners
Drakes' Island
The owner of Drakes' Island required a liquidity facility of £500,000 for several unrelated operational businesses that he ran. We informally valued the island at £2 million, based on the borrower's initial purchase and significant progress they had made to achieving detailed planning consent and implementing the provisions for renovations and new structures on the island.
The loan was secured for 12 months, with an exit presumed to be from the auction sale of the site. Ultimately the borrower paid within the loan-term via a refinance.
Maidenhead
The developer needed a £500,000 mezzanine loan to complete the purchase of a house in Maidenhead, to be demolished and built into 3 new-build terraced houses.
This loan was secured by way of a 2nd charge behind Atelier Capital Partners, as well as by significant personal guarantees from the directors of the development company. The loan term was for 18 months, and we were repaid via an exit refinance facility.
Lewes
The developer needed a £150,000 senior loan to complete the purchase of a run down two bedroom apartment on the High Street in Lewes, for £240,000. and to conduct planning and renovation works. Their plan was to apply for listed building consent, followed by a conversion to a three bedroom, modern apartment.
We facilitated the loan on a first-charge basis for 12 months, advancing £100,000 (net) on Day 1, followed by staged drawdowns once the developer achieved LBC and planning consent to convert the apartment. By doing so, the net LTV did not exceed 50% of the asset value at any stage, and the developer achieved a 50% uplift to the property. We were refinanced within term by a traditional BTL mortgage.
Somerset Woods
The borrower required £330,000 to consolidate existing debt and fund forestry improvement works. The 12-month loan was secured against 150 acres of woodland and two cottages. Repayment was to come from the sale of part of the security. The loan had multiple areas of complexity: A niche asset type, a complex property title, and no ability to service the interest. Despite this complexity, we were able to quickly provide funds without a valuation. Our desktop assessment indicated a loan-to-value below 25%. The loan repaid within term.
Bristol Electric
The borrower required £600,000 to fund his investment company. The 12-month loan was secured against a penthouse in central Bristol, which the borrower had recently purchased for £1.25m. A simple, hassle-free loan was provided without the need for a red-book valuation. The loan repaid within term using proceeds from the investment company.
Vineyard
A vineyard-owner required £200,000 to upgrade their visitor centre. The vineyard was unencumbered and had a value which we informally estimated to be at least £2,000,000. The specialist nature of the asset put it out of scope for many lenders. Repayment was to come from the sale of an unrelated property which was not available as security.
A six-month loan was provided. The loan did not repay on time due to delays completing the property sale. Paddington worked constructively with the borrower, avoiding the need for an enforcement process. This saved the borrower a considerable amount of money. The loan was repaid in full approximately six months after the end of the term.