BUSINESS & FINANCE
PROSPERO FINANCE:
HELPING CLIENTS FIND THEIR WAY THROUGH
THE SPECIALIST FINANCE MARKET
As the name implies, the specialist finance market is not an arena throughout the market, giving their clients the peace of mind of having
to enter without the highest level of knowledge and experience. Too an exit option set up prior to completion.
many property investors find themselves paying higher finance costs
than they should be, or worse still, in the incorrect type of finance One of their latest deals saw an investor remortgage two existing
when purchasing or refinancing their next property development properties, both valued at over £2M in order to raise equity to allow
project with no way to get out of the finance deal. It is critical that them to convert an old assembly hall into flats. Both of the existing
anyone looking at this type of finance should have the correct finance mortgages were already with a specialist lender who would only deal
broker in their corner, which is where Prospero Finance are making a with a broker that had the appropriate level of expertise to ensure the
name for themselves, both with clients and lenders. deals completed quickly.
The business was started in 2016 by Martin Smedley, a finance broker The relationships that they develop with their clients means that
with over 30 years’ experience and James Relph, owner of a wealth they are now seen as the ‘go to’ broker of choice when clients require
management business, with an idea to provide mutual specialised finance. This ongoing relationship was highlighted further
when an existing client, fresh from receiving 100% funding by using
services to their wealth management clients, whilst looking to additional security to acquire a mixed use commercial property with
establish a name in the property development arena. The team at a plan to convert the whole building to self-contained residential flats
Prospero Finance very quickly built a reputation for helping their has now returned with an even bigger project that requires finance to
clients achieve the most suitable type of finance for their project, build 72 homes.
which has helped them become preferred partners with a number of
lenders, in particular the more specialist lenders.
Although the bridging and development finance is a large part of their
business focus, Prospero Finance can also help clients with Buy to Let,
The specialist bridging finance team at Prospero Finance are able
to arrange some of the best value, bespoke bridging facilities in the
market. In addition, they are able to arrange the exit on the bridging
loan where required, often on bespoke terms not widely offered
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The Art of Luxury
Issue 42 2019
House of Multiple Occupancy (HMO’s) and residential mortgages.
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 [email protected]