Bridging Loan To Pay Off Personal Debt - £75k

Bridging Loan To Pay Off Personal Debt

Area
Leicestershire
Capital Raised
£75K

The Scenario

Our client agreed to sell his investment property in Leicestershire to a property developer.

The developer agreed to purchase the property, providing planning permission was secured on the property to enable him to complete his development project.

Our client was prepared to accept an initial payment of £50,000 after planning permission was received, and then accept another payment of £300,000 after the completion and sale of the developer’s project.

A unilateral notice was placed on the investment property to ensure our client did not do anything with the property.

Unfortunately, the planning permission application was taking longer than expected to process and the developer was only obliged to pay our client upon receipt of the planning permission.

Our client had a number of personal debts that he desperately needed to pay off, and the delay was stopping him from clearing these debts.

Our Solution

We acted quickly to minimise the interest on our client’s personal debts.

We were able to negotiate with the developer’s representation to temporarily lift the unilateral notice on the property, which enabled our client to raise finance against the property.

We then secured a £75,000 bridging loan to cover our client’s personal debts along with any interest incurred.

Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance? I specialize in helping international clients source residential and investment property finance for UK property. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

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.

Contact Us