InterBay secures £6 million financing deal for Elizabeth School
23 Apr 2024
InterBay, part of specialist lender OSB Group, has secured a £6 million financing deal for Elizabeth School of London, working in conjunction with Nick Sedgwick, sales director of Fortune Finance.
The educational institution, which has been offering higher education since 2011 and operates eight sites across the UK, needed a permanent location for its head office and teaching facilities in London.
The school found a suitable property and, through their broker Nick Sedgwick, approached InterBay for financing. Mo Parmar from InterBay structured a semi-commercial loan at a 64% loan-to-value ratio over a 30-year term. The deal was supported by the potential for alternative uses of the property, providing additional security for the loan.
“This case is a great example of how InterBay can support a wide range of owner-occupier cases within the commercial and semi-commercial arena,” said Marc Callaghan (pictured), head of specialist finance at InterBay.
“Our in-house, expert team of underwriters can be brought into a case in the very early stages and can be involved throughout the application process to completion which is what happened here with Elizabeth School of London. The involvement of the underwriting team and real estate team meant the loan could be secured against two of the organisation’s other teaching sites in Northampton and Leicester.”
Sedgwick highlighted the long-term relationship with InterBay and Parmar, emphasising their significant role in supporting the school’s growth and adapting the financing to meet its future needs.
“Mo has been involved in the client’s long-term growth discussions with me which has really helped to tailor this deal and provide insight for future plans,” he said. “I am really looking forward to working with Mo again for this client to support their growth even further.”