June 2024
The situation – Initially looking for potential mortgage options, the clients had inherited a property that had some outstanding finance owed on it that needed to be repaid quickly, but as they were planning to ultimately sell the property, no solution was immediately found.
Not wanting to let the client down, the long standing TLP introducer referred the case over to our bridging finance team, to discover if a bridging loan would be a potential option for the clients.
Additionally, the clients were interested in raising additional funds with the loan, in order to refurbish the property into a more marketable condition to further enhance the sale. This meant that they were in need of a £150k loan.
Bridging team leader Russ stepped in to offer his advice and help the clients end their search.
Our solution – After a quick chat with the clients to fully understand their current situation and overall goals, Russ reached out to his extensive contacts to identify a lender that would accept this particular scenario.
Russ quickly identified United Trust Bank as an ideal lending partner and was able to broker a competitive deal that would allow the clients to achieve all of the required terms.
He was then able to process the application and kept the clients up to date at all points of the process. Also despite complications ownership queries, Russ made the process as smooth as possible and the application was completed in less than five weeks.
The feedback – Obviously the clients were extremely happy with Russ’s service as this allowed them to move forward, repay the outstanding debts and commence the refurbishment work to help sell the property in the near future.
Chat to Russ or Nimal today to find out if they could be eligible for a comprehensive bridging loan.
