Sourcing a fast bridging loan whilst client secures planning
What was the situation?
Our team was approached by a developer client, who had an existing finance facility on a property in Surrey. Their existing funding was coming to an end, and they were looking for almost £600,000 to renovate the property that was in need of modernisation.
What was the issue?
Complexities in this case arose when the client’s planning application was delayed. With their existing facility expiring, the client was keen to secure cheaper terms whilst waiting for the planning application to sanction.
What was the process?
After many years in the industry, we’ve built up an extensive network of lenders that we’re proud to have very good relationships with. By leaning on these relationships, we knew who to approach and as a result, managed to reduce my client’s current rate and give them time to secure planning.
What was the solution?
As time-pressure was a key factor in this case, we needed to find a solution that would give our client breathing space to secure new funding, whilst waiting for planning to be granted.
To do this, a bridging loan was the most suitable solution for the client’s circumstance. A facility was agreed at 70% LTV, at around 0.9% per month over 12 months. This was less than the client was paying on their expiring facility – needless to say they were delighted!
Lending solutions with LDN Finance
Do you have an existing property finance facility that’s coming to an end? Perhaps a bridging loan is the answer for you.
At LDN Finance, our specialist team has extensive experience in securing short-term finance solutions suited to your circumstances – no matter the complexity. Working closely with our trusted network of private banks and specialist lenders, we’re sure to secure a bespoke arrangement for your project at competitive, market-leading rates.
Get in touch with us to organise an initial consultation.
Need competitive specialist funding?
We can help.
Get your project over the line at market-leading rates with the unrivalled knowledge and network of our development, commercial and bridging finance specialists. Our expert advisers are on hand to find the ideal solution for your next or existing project, no matter the complexity.
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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