Albatross Lending Group has completed a £336,227 second charge bridging facility secured against a five-bedroom detached house in Bedfordshire.
The loan sat behind an existing Santander first charge and was used to clear a £71,228 high-street bank second charge, with £208,772 released to support the borrowers’ expansion into the private special educational needs (SEN) sector.
The property has five double bedrooms, four reception rooms, an outdoor heated pool and a garage.
The borrowers have owned the house since 2005 and have experience running nurseries and primary schools across the UK.
The funds are being used for a new business venture, with interest retained for the full 12-month term and no monthly payments required during the loan period.
Albatross Lending Group worked with the borrowers and their introducer to put together a facility based on the strength of the case.
Interest was retained to reduce pressure during the business transition, and there were multiple exit options.
David Cardoso, lending associate at Albatross, said: “This was a case where the borrower’s established track record and clear operational plan gave us real confidence.
“Our focus was on structuring around the complexity of the second charge position to deliver capital efficiently and on terms that worked for them.”