Bridging Loan To Exit Existing Finance For Bristol Property

Area
Bristol
Capital Raised
£350K

The Scenario

Our client, who had finance with another lender, intended to use the proceeds of the sale of his Clifton (Bristol) based development project to repay his existing loan.

Unfortunately, his development was taking longer than expected to sell. Our client was getting worried, as he only had 4 weeks to repay his existing finance and he was in danger of incurring late repayment fees.

Our client was unable to renegotiate with his existing lender to extend his term of finance.

Our Solution

We spoke to the client and were able to assist him without delay.

We secured a bridging loan against his development and his existing residential property to repay his existing lender.

Not only did we repay the client’s existing lender within the 4 week deadline, but we also obtained a loan with a more favourable rate and a longer term of finance.

As a result, our client has a further 12 months to sell his development and is paying a much lower interest rate on his finance.

Upon completion of the bridging loan for the Bristol property, our client contacted us in relation to Sam's service saying 

"Sam understood our requirements and time pressures, and ensured that we managed to turn our bridging loan around within 3 weeks.

He regularly chased the lender up if he felt they were dragging their heels and kept us updated at every turn. He foresaw potential issues allowing us to allay them in advance and reduce any possible delays. He was friendly and professional which helped us to feel calm and confident that we were being looked after well.

 We are very happy to have found an adviser in Clifton, where we live, and we will be returning to Sam whenever we have a similar requirement."

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.

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