Experienced Developer Secures £1.4m Auction Bridging Loan in West London
What was the situation?
Our Associate Director for Specialist Finance, David Gissing, was approached by an experienced property developer looking to refinance two flats in West London.
The client needed to repay existing refurbishment finance and raise additional capital to secure a new auction purchase. With only four weeks to complete, speed and certainty were essential.
This was one of three separate cases David completed with the same lender on a single day in July, a remarkable achievement that highlights the pace and breadth of finance solutions LDN delivers for its clients.
What was the issue?
The challenge was the auction deadline. The client had just four weeks to arrange finance while managing several requirements: repaying two outgoing loans, securing funds for the auction deposit, and setting aside cash for refurbishment.
On top of this, they needed flexibility to sell their West London properties at the right time to maximise value.
What was the process?
David drew on LDN’s network of funders and worked closely with valuation and legal partners. By keeping everyone aligned and the process moving, the bridging loan was arranged and completed in under three weeks, comfortably ahead of the auction deadline.
What was the solution?
David secured £1.4m of auction bridging finance in less than three weeks at 75% gross LTV. The funds were used to repay existing lenders, cover the auction deposit and provide cash for refurbishment. This gave the client the flexibility to sell their West London properties at market value without pressure.
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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