BUSINESS & FINANCE
PROSPERO FINANCE:
MAKING HEADLINES IN THE
SPECIALIST BROKER MARKET
Prospero Finance may be a new name to the specialist broker whole building to self-contained residential flats. The bridging loan
market, but they are already making headlines with both clients and was completed by taking additional security on another residential
lenders for their expertise with development and bridging finance. property to give the customer 100% funding for the purchase. The
The business was started in 2016 by Martin Smedley, a finance bridging finance was over a 12 month term and the exit will be
broker with over 30 years’ experience and James Relph, owner of development finance to convert the property into flats.
a wealth management business, with an idea to provide mutual
services to their wealth management clients, whilst looking to Earlier this year, Prospero Finance completed their largest loan to
establish a name in the property development arena. date when helping an experienced team of property developers exit
a £7M finance facility after they had overrun on the build, thereby
The team at Prospero Finance very quickly built a reputation for exceeding the term of the original finance which saw their interest
helping their clients achieve the most suitable type of finance for charges rise. The exit facility arranged managed to significantly
their project, which has helped them become preferred partners reduce the cost of borrowing on the facility whilst also raising
with a number of lenders, in particular the more specialist lenders. additional funding to allow the developers to complete the project.
The specialist bridging finance team at Prospero Finance are able Although the bridging and development finance is a large part of their
to arrange some of the best value, bespoke bridging facilities in the business focus, Prospero Finance can also help clients with Buy to Let,
market. In addition, they are able to arrange the exit on the bridging House of Multiple Occupancy (HMO’s) and residential mortgages.
loan where required, often on bespoke terms not widely offered
throughout the market, giving their clients the peace of mind of
having an exit option set up prior to completion.
Their expertise recently helped a client receive 100% funding to
acquire a mixed use commercial property with a plan to convert the
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The Art of Luxury
Issue 41 2019
If you wish to find out more about how Prospero Finance could
help you obtain the correct structure for your next development or
purchase finance, please contact enquiries@prosperofinance.co.uk