Castle Trust Bank recently partnered with Tapton Capital to deliver a fast, structured, and expertly managed bridging solution for a client purchasing a Grade II listed property at auction. Despite multiple legal and due‑diligence complexities, the deal completed in just two weeks from application to completion—protecting the client’s significant auction deposit and enabling a substantial refurbishment project.
The Opportunity
The client secured a three‑bed Grade II listed mid‑terrace property near Beaufort Gardens in London at auction, with ambitious plans for a full internal refurbishment and reconfiguration. The scheme included:
- Transforming the existing layout into a four‑bedroom property
- Creating two new bathrooms and two additional bedrooms
- Installing a new kitchen and new flooring
- Reworking the reception room
- Laying new carpets across the property
Given the scope and the potential uplift, the broker sought a Light Refurb Bridge to support both the acquisition and works.
The Castle Trust Bank Solution
Castle Trust Bank provided a 90% net Day 1 loan, structured on a Below Market Value (BMV) basis—an approach that allowed the client to maximise leverage while maintaining a realistic and compliant lending position.
A number of complexities were identified early in the process, but the experience of both Tapton Capital and Castle Trust Bank meant all were managed promptly and efficiently:
Key challenges included
- Limited company purchase structure requiring enhanced corporate checks.
- Enhanced due diligence required.
- Requirement for both a full valuation and a structural engineer’s report to ensure the property’s listed status and condition were fully understood.
- Need for an addendum to confirm correct rental income upon completion of refurbishment.
- A title split, as a new, separate title was required from a larger existing one.
To drive speed and clarity, Russell Cooke Solicitors were instructed on a dual‑representation basis, ensuring close collaboration across all parties.
Delivering Under Pressure
The auction house was pressing hard for a quick completion, and the client faced the risk of losing a significant deposit if timelines slipped. Recognising the urgency, Tapton Capital worked intensively—including over a weekend—with both the client and solicitors to ensure all requirements were met swiftly.
Castle Trust Bank’s underwriting and completions teams mirrored that pace, enabling a streamlined process without compromising due diligence or risk management.
The Result: Completion in Just Two Weeks
From application submission to completion, the entire case took only two weeks—an impressive outcome given the structural, legal, and compliance considerations involved. This case highlights Castle Trust Bank’s ability to:
- Support brokers with complex auction‑driven deadlines
- Deliver high‑leverage light refurb solutions
- Work collaboratively with legal partners to maintain speed
- Navigate multi‑layered due diligence without delaying completion
It is yet another great example of Castle Trust Bank, Tapton Capital, and a committed legal team working in sync to get the right outcome for the client—quickly, confidently, and professionally.
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