£1.9 MILLION
65% LTV
0.72% PER MONTH
The brief
Our solution
Underwriter quote
We took time to understand the nature of the client's credit issues and developed a 24 month loan accordingly. This was designed to give the client time to resolve all issues and exit onto a high-street BTL loan. We also built additional funds into the loan which allowed the client to pay back private investors.
The client came to us in need of a loan to refinance another lender. The property, located in London, England, had just been converted into a fully tenanted ground floor shop and 4 flats above. Credit issues made it impossible to secure a high street loan at that time so we were enlisted to provide a temporary bridging solution.
This was a really rewarding case to complete. The client, through no real fault of their own, found themselves compromised. Rescuing them from extension charges - and at a reasonable rate - really reinforces the important role that bridging finance plays in the property market.
