Arranging 74% Market Value Finance for a Distressed Auction Property
What was the situation?
Our client had purchased a substantial mixed-use property in North London at auction and required urgent refinancing after their original lender withdrew support. The property was in a poor state of repair, which meant many traditional lenders were unwilling to consider the case.
What was the issue?
With an agreed purchase price of £1.6 million, the client needed to secure funding covering 74% of the market value to avoid losing their deposit and facing contractual penalties. Time was critical, with less than three weeks remaining before completion was due. The property’s mixed-use status and vacant sections further complicated the lending proposition.
What was the process?
Leveraging our relationships with specialist lenders, we were able to secure a bridging loan of £1.184 million against the property. The facility provided sufficient funds to refinance the purchase, cover associated fees, and create a clear pathway to exit through refurbishment and development finance. Our team worked closely with all parties to ensure the loan completed within 12 working days.
What was the solution?
The client successfully completed the purchase and preserved their investment. The bridging finance gave them the time and flexibility to carry out essential refurbishment works and transition to long-term funding on improved terms once the property is stabilised.
Need help securing bridging finance? Our experts are on hand to assist. Call 020 3903 9875 to speak to an adviser, or use our online contact form.
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Testimonials
Our happy clients
As a returning customer, I would like to express my sincere thanks to the team for their outstanding support during the completion of my property purchase. In particular, Catherine and Darren have been incredibly helpful throughout the process. Their communication, professionalism, and customer service have been absolutely excellent, making the entire experience smooth and reassuring. Many thanks again for all your hard work.
My fiancée and I were recommended to LDN Finance when we started our mortgage journey, and the service we have received, and continue to receive, has been outstanding throughout. Phil Levesley initially looked after us and made what can be a very daunting process feel straightforward and easy to understand. He took the time to explain everything clearly, never rushed us, and was always happy to answer any questions we had. Nothing ever felt like too much trouble. As part of the process, we also wanted to explore a number of protection policies, and Phil introduced us to his colleague,
Owen was absolutely amazing and supported me every step of the way throughout the mortgage process. He was always clear, patient, and incredibly reassuring, making what could have been a stressful experience feel smooth and manageable. Bharathy was also really helpful, promptly getting in touch and making sure all the relevant information was handled efficiently. I couldn’t be happier with the service and would highly recommend them both. Five stars without hesitation.
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