Our quick loan of the month, one of our returning borrowers had the opportunity to widen their property portfolio by purchasing a 3-bed flat in Reading, with plans to redecorate, furnish and rent out the property.
After a last-minute u-turn from our borrower because their prior lender was taking too long, they required funds imminently to not miss this opportunity. Receiving the loan on a Tuesday with completion set for the Friday was a challenge, but we like a challenge, and having completed loans in 36 hours before, we were happy to finance this project.
We worked with this borrower countless times before, which ensured a smooth and quick completion that satisfied our underwriting checklist and legals. This also meant that we were comfortable to provide 67% LTV towards the purchase, with no admin or exit fees.
A massive well done for all those that helped with this loan’s proceedings, and a special shout out to our Head of Lending, Liz Tan, for the late evenings ensuring we got this over the line!