Funding 365 completes £8.5m bridging loan in just 3 working days

Funding 365 completes £8.5m bridging loan in just 3 working days

Fast bridging lender Funding 365 has completed an £8.5m bridging loan within 3 working days to save a borrower’s buy to let portfolio from being sold at auction.

Fast bridging lender Funding 365 has completed an £8.5m bridging loan within 3 working days to save a borrower’s buy to let portfolio from being sold at auction.

The borrower needed to re-finance very quickly as their high street lender had appointed an LPA receiver following a dispute and a number of its properties were due to be sold within days.

The loan, which was brokered by LINK Capital UK, was supported by security over a portfolio of 16 commercial and residential properties.

Known for its ability to execute complicated bridging loans very quickly, Funding 365 previously completed a £6.2m semi-commercial bridging loan within just 1 working day of agreeing terms with the borrower.

Funding 365 Managing Director, Mike Strange comments,”We are very pleased that we were able to help the borrower retain ownership of their property portfolio and allow them the time to re-finance with a term mortgage. This is just another example of the quick, tailored service that our broker partners have come to appreciate from us. Credit must equally go to the team at LINK Capital UK and to our solicitors who worked above and beyond to complete this case within such tight time constraints.”

LINK Capital UK Managing Director, Theo Kemp comments, “As a professional finance intermediary we are always conscious of those lenders that say they can deliver but can’t as ‘computer says no’ or credit committee declines the case at the nth hour. Funding 365 is unprecedented in its professionalism, speed and integrity - delivering what the customer requires on time and at highly competitive terms - especially in this situation with the borrower being in receivership. Mike Strange and Eddie Boakye worked extremely hard with us and the customer to deliver a complex solution so quickly."

Funding 365 Limited is registered in England & Wales / Registered address: 20-22 Wenlock Road, London, N1 7GU / Company Number: 8488034.

Funding 365 Limited is not regulated by the Financial Conduct Authority or under the Financial Services & Markets Act (FSMA). All loans provided by Funding 365 Limited are non-regulated mortgage contracts, defined under Article 61(3) of the FCA Regulated Activities Order or non-regulated contracts under the Consumer Credit Act. Your property may be at risk if you do not keep up repayments on any mortgage or loan secured on it.

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