Arranging 100% Purchase Funding Through a Cross Charge Over Additional Property
What was the situation?
Our client had secured a residential auction property at a significant discount and wanted to fund the entire purchase price without using personal capital. They owned an unencumbered investment property elsewhere in the UK and were looking for a solution that would release maximum liquidity quickly.
What was the issue?
Due to the short completion timeline, traditional lenders were unable to assist. The client required 100% funding against the purchase price of £800,000 to complete within the 28-day auction window. Using a cross charge over their existing property was the only viable route to raise the necessary funds in time.
What was the process?
We arranged a bridging facility that combined security over the auction property with an additional charge over the client’s unencumbered asset. This enabled us to achieve 100% funding of the purchase price, plus fees, with a clear exit strategy through the sale of the secondary property. Working closely with our lending partners and both sets of solicitors, the transaction completed in 15 working days.
What was the solution?
The client secured the property without tying up personal cash reserves and preserved their investment flexibility. The bridging finance provided a simple, practical way to leverage existing equity and take advantage of a time-sensitive opportunity.
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