One of the main benefits of an unregulated commercial bridging loan is the speed in which it can be secured, however our team outdid themselves in this latest ‘Deal of the Month’.

The client made an enquiry on Monday morning about acquiring £25,000 to finish the refurbishment of his investment property before putting it on the market. The only issue was that this property was too highly geared and therefore it was unlikely that he would be able to secure additional funding against it.

Despite this, our Specialist Property Finance Broker, Tom Rowlands, managed to find the client the money he needed. How? Well, Tom’s strategy was to make use of business exemption. Tom sought about securing a £25,000 bridging loan on the client’s main residence which had sufficient equity behind its existing mortgage.

A formal offer was made Tuesday, the offer was accepted and the funds were released by Thursday afternoon – that’s under 100 hours. The client can now finish his property refurbishment and will soon be ready to put it up for sale and repay his debt.

Sometimes there may not be an obvious answer to your financial woes, however with the help of a trained and experienced financial broker who understands business exemptions and second charges there could be a solution.

If you’re in a similar situation to this client, get in touch with our friendly team on 02920 766565 to see how we can help you.

 

bridging finance
Read more:
Deal of the Month: Quick Finance for an Auction Property Purchase
Everything You’ll Need to Get a Bridging Loan
What Can a Bridging Loan Be Used for?