£1m bridging loan to buy unmortgageable property
The Scenario:
A client was looking to purchase a residential property for personal use. The property was valued at £1.5 million but needed light refurbishment work to the kitchen and bathrooms to bring it up to a liveable standard.
Unfortunately, without this refurbishment work being completed, the property was considered unmortgageable by all standard lenders. This meant the client was unable to move forward with the purchase and risked losing the property to another buyer.
Our Solution:
The client approached Clifton Private Finance and we worked with them to find an appropriate solution. Using our contacts with various non-high street lenders, we were able to secure a bridging loan of £1 million for the client over 12 months at a highly competitive rate of interest.
This gave the client the necessary funds to make the purchase and complete the required refurbishment work. Once the kitchen and bathrooms were brought up to an acceptable standard, we arranged a residential mortgage for the client, allowing them to repay the bridging loan.
Are you in a similar position? To investigate your finance options call our team on 0117 959 5094 or fill in our call back form.
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.
Mathew Phillips
Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Adam Arnott
Associate Director
Bristol
0117 205 0214
Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.