What was the situation?
I was recently approached by a client who urgently needed to arrange bridging finance against a buy to let property in order to fund extensive renovation works on her main residence. After a last-minute cancellation, it just so happened that the builders were available to carry out the work immediately, otherwise, they would not have been able to complete the works for another six months.
What was the issue?
Due to the time-sensitive nature of the renovation project, my client needed to have the necessary funds in her account within one week in order to pay the builders. Furthermore, another issue was presented in that the buy to let property, against which the bridging finance was to be secured, was owned under an offshore trust based in Gibraltar.
What was the process?
I made sure to understand my clients’ circumstances, needs, and priorities in full, and immediately proceeded to raise enquiries with several lenders with whom I have a fantastic relationship and knew from experience could get the deal turned around at speed.
As a result, I quickly identified the most suitable lender for the case, agreed terms, and had a full application submitted within two hours. I also made sure to advise my client on which solicitor would be able to complete the necessary legal work within the timeframe required. In order to keep the case on track, the solicitor and I worked outside of normal working hours to expedite the process with the lender and ensure the deal was completed in an efficient, timely manner.
What was the solution?
As soon as terms had been agreed, the solicitors were instructed, and valuation proceedings were set in motion. Despite the deal requiring a lot of time and effort due to the tight deadline and the complications of the property being held within an offshore trust, I managed to secure a fantastic bridging finance solution for my client that enabled her to fund the renovation of her home.
What does the client say?
“I can honestly say that Johnny, who was acting on my behalf, went out of his way to ensure that the deal went through smoothly and was extremely helpful and reassuring. It was good to work with someone as professional and personable at the same time. I would highly recommend LDN Finance.”
Lending solutions with LDN Finance
Are you a foreign national looking to secure a high loan to value mortgage in the UK? At LDN Finance, we are dedicated to making the market more transparent for our clientele. Our expert brokers do the hard work for you, navigating eligibility criteria, rates, and the property finance market to ensure you have choice and control through every step of the process. Get in touch with us today to organise an initial consultation.