£1m bridging loan to buy unmortgageable property

Area
North East England
Capital Raised
£1m

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.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

James Palmer

Senior Associate

London

0203 900 4322

Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Have a similar situation? I specialize in bridging finance and can provide creative solutions for your property funding requirements.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.

Adam Arnott

Senior Associate

Bristol

0117 205 0214

Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.

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