Fast bridge for equity release
What was the situation?
The client approached us needing to quickly refinance an existing buy to let (BTL) property to release equity for a commercial purchase.
What was the issue?
The client was unable to obtain a BTL mortgage primarily due to the Energy Performance Certificate rating not meeting the minimum requirements for lawful letting. The commercial property being purchased by the client had been down valued by the surveyor and the client therefore needed to increase their deposit. The client had a set exchange and completion date for the commercial purchase, so the refinance needed to complete swiftly.
What was the process?
We sourced a lender with whom we have strong relations with and presented them with the client’s situation. We submitted a fully packaged application to the lender which enabled them to underwrite the case within three working days.
The valuation report on the property was slightly challenging as it contained detrimental comments regarding the property. As we had already pointed out the property flaws to the underwriter at the very beginning, the lender was prepared to take a positive view based on the overall strength of the case and proceeded to a formal offer.
What was the solution?
We worked to produce a short-term loan facility quickly, utilising our strong existing broker/lender relationship to secure a speedy non-standard transaction. This ensured the client did not miss out on the commercial property they wished to purchase.
The client completed on the commercial purchase using the funds we had raised and was extremely happy with the speedy and efficient manner in which we achieved this.
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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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