es
in the marketplace completing £100m of bridging cases last year. but for other brokers funding mezzanine fi nance is perhaps more common. chris Fairfax, managing director at bournemouth-based packager Positive Lending, explains his business will put its own cash up to top up the loan to value of deals they’re arranging for clients with other lenders. “if it’s a case of a 5% top slice of
fi nance to get the deal done and we’re happy with the credit risk then we’ll look at doing that,” he
www.mortgageintroducer.com
says. “When an application comes in we’ll do the quotation on rate from one of the lenders on our panel like omni capital or dragonfl y Property Finance but we can top slice on deals.” Fairfax explains that Positive will often charge a higher rate of interest on that percentage top slice. For example the borrower may pay a rate of 1.25% up to 65% LtV with a larger bridging lender and then 2% on the additional percentage loan supplied by Fairfax.
bridging introducer MAY 2012 7
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