A great completion to show what we’re really good at – providing a speedy service! This particular borrower was a seasoned developer and required urgent funds to repay off an unsecured loan of £200k for other investment opportunities. We took a charge over one of his buy-to-let properties in order to release equity for this. At the right LTV and with such a great property portfolio, the potential for a successful relationship with this borrower was great.
With no recent valuation or legal suite in place, we had to ensure there were no delays to the application process, receiving a desktop survey deemed acceptable to complete on. This also meant taking a view on several aspects of the loan structure. Nevertheless, we were pleased to provide the full finance sought on a 15-month term.
It was imperative we kept daily contact with our borrower and all other respective parties, interjecting where we are able to, so the process can not only be speedy but seamless. We truly believe and act on the fact that lending doesn’t have to be complicated, and with no credit line we’re able to be flexible and cater to our borrowers needs as and when we see fit.
If you’ve got any bridges with an imminent completion, our Lending Team will be more than happy to talk through your project and see how we can help.