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Our borrower required a bridging loan to purchase a flat in London, in order to refurbish the property with a bespoke loft conversion.
The borrower needed as much money on day 1 as possible to purchase the property. However, they were able to fund the refurbishment themselves. We provided 70% of the purchase on day 1. This loan took a little longer than some of our others as the borrower was waiting for planning permission to come through; but once it had, we completed the next week.
