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Re-Bridge

Objective

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.

Obstacle

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.

Outcome

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

  • Residential
  • Commercial & semi commercial
  • Land (with planning permissions)

#madeeasy

Location: London
Value: £3.6M
Case Type: 1st Charge Bridge
LTV: 65%