Loan Amount:
£530,000
Property Value:
£2,515,000
LTV:
65%
Often, our funding is used by borrowers for a single investment or end-goal. Typically, this includes purchasing a property, refurbishing a home, or covering a chain break.
But sometimes, the funds are spread across several different elements. A client recently came to us for a refinancing loan, where the capital was to be used for three separate end goals.
With so many different elements to assess, this proved to be a challenging case. This wasn’t helped by the fact the client was in a rush to get their plans in place ahead of other looming deadlines. Fortunately, as we had worked with the borrower before, and had a strong relationship with the introducer involved, the underwriting process was made somewhat easier.
Last minute changes forced adaptation
The underwriter for this deal had to move quickly, given the borrower’s unexpected situation. They had their property up for sale, and had accepted a recent offer. But, this did not work out. The client planned to use some of our funding while the property was put back on the market. The remainder was to be used for a new business.
This required close attention from us. Looking into the details and business plan, we could see the client had sensible forecasts in place, which fully incorporated how our capital would be utilised.
What’s more, we saw the property itself was in a desirable location, which made an exit strategy feasible. These elements, coupled with our existing relationship with the client, allowed us to happily deliver funding.
We provide flexibility where others cant
Bridging finance can be used for more than just property purchases. The flexibility and utility of our market is increasingly coming to the forefront. Especially as the wider lending landscape struggles to adapt to a difficult economic environment.
We have funding available that can help with consolidation plans, development exit projects, and all manner of corporate setups.
We’re able to accommodate several complicated investment strategies. If you want to discuss your potential options, we vow to respond to any enquiry you send through within four hours.
