Fast bridging loan completed in 8 days

Area
Leicestershire
Capital Raised
£45K

No need to make a drama out of a tight timetable. Bridging finance can be quick. Or inexpensive. But whenever possible, we make it both.

The Scenario

Our client is an older gentleman downsizing to move nearer to family: from the pretty village of Cosby in Leicestershire to Market Rasen in Lincolnshire, an hour and a half up the A46.

He had found absolutely the property he wanted in Wragby, and was keen to put down a 10% deposit to secure it. He also wanted to consolidate some debt and pay off the outstanding £14K mortgage on his Cosby home.

The Solution

A bridge of just £45K was enough to achieve what he wanted, which gave us a sub-50% LTV to find him the best deal.

We found a lender who would do a £99 online valuation, who would share their legal services with him, and were offering a rate of just over half a percent.

As soon as our client's purchase offer was accepted we could submit his application to the bank, and the money was in his account eight working days later.

He expects to have his house sold in a couple of months to exit the deal. But even if it takes the maximum of a year the finance will have cost him just over £6K, which he considered a reasonable investment to get the house he wanted at the price he’d offered.

Can we secure similar fast bridging finance as quickly for you?

This client’s low LTV requirement and clean credit history widened the field of available lenders. And his clean sale-of-property exit meant there was no need to establish his income for a remortgage exit.

We could approach a lender who would do an online valuation, allowing us to give our client a clear indication of how quickly he’d have an offer. He was delighted to be able to proceed.

Review of Sam ONeill Clifton Private Finance

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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