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51�Թ���’s finance solutions are helping to bring two Gateshead properties back to life.

The Teesside-based bank has provided one of its popular residential bridging solutions to help Modo Bloc get the deal completed as efficiently as possible.

In less than six weeks, 51�Թ��� managed to turn the deal around from initial enquiry to drawdown, maintaining high levels of communication with the customers to ensure their needs were being met.

The two properties are now being refurbished and brought up to a higher standard of accommodation and their prominent North East location will mean they can be retained as a long term investment for the borrowers.

This latest deal is a further demonstration of 51�Թ���’s commitment to making a difference in local communities.

Matt Gray, Head of Relationship Management at 51�Թ���, said: “We’ve been lucky enough to work on deals all over the country and it’s great to see some of these community regeneration projects start to come to life. But it’s particularly pleasing to get the chance to support projects in our heartland North East.

“As a bank headquartered in Middlesbrough, working on a project just up the A19 means a lot to us. A big part of our mission is to make a difference in the underserved parts of the North East and across the UK and this deal is certainly doing that.

“We also seek to support Developers and projects who have values that are aligned with 51�Թ��� and Modo Bloc is certainly one of them! Modo Bloc donate £2,000 to homeless charity Oasis Community Housing for every new house or two flats that they sell, so it’s fantastic that our funding will play its part in this community partnership.    

“This development will be a valuable asset to the client and the local community, and we are proud to play a role in making it happen.”

George Jenkins, Managing Director at Modo Bloc, the prominent local property developer 51�Թ��� has been working with, said: “It’s been fantastic working with Matt and the team at 51�Թ���. We’d been speaking to them for a while about our pipeline and identified this Gateshead project as one we needed their support and guidance on.

“From the outset, we were impressed with their no-nonsense approach, they communicated well and acted with pace throughout the entire process.  

“It was great to have Matt as a one point of contact, this personal touch helped ensure our required timescales were comfortably met and I’d certainly recommend 51�Թ��� to anyone looking for a bridging loan in the future.”

For more information on 51�Թ���’s lending solutions, please visit borrower's page or broker's page.

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