Bridging finance saves investor
What was the situation?
We were approached by one of our clients looking to increase their residential portfolio.
What was the issue?
When the client received the valuation report for the property they wished to purchase, it was deemed un-mortgageable as the property required complete modernisation. The client had already exchanged contracts by this point, and was concerned they could lose their 10% deposit lodged with his solicitor and therefore urgently needed to complete.
What was the process?
We suggested that they take out a short-term facility to carry out the refurbishment uplift. We facilitated them in borrowing 75% of the purchase price before converting to a buy to let (BTL) mortgage.
What was the solution?
We secured the client a short-term facility for 75% on a six-month term, which enabled them to secure the asset, carry out the refurbishment requirements to allow them to exit to a term solution.
The client was extremely grateful and happy that we could solve the dilemma in such a short space of time and once completed, move them to a solution to repay the facility, once refurbished, on more favourable terms.
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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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