Our client had an existing facility in place with a lender that was due to be redeemed; afterunsuccessful re-structuring with their current lender, our client needed to find an alternative way to repay the 2nd charge bridge as well as their 1st charge mortgage.
A large single asset that had been down-valued by around 15% pushing up the required LTV. The client had been unsuccessful in selling the house due to issues relating to Brexit.
We successfully secured finance for the client over a 12 month period at a very competitive rate, allowing more time to sell the property at the right price, rather than a distressed sale.
Types of Lending Cover
Commercial & semi commercial
Land (with planning permissions)
1st Charge Bridge
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