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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.
Please note: This case study should not be used as a reference for available products, please REQUEST A CALL BACK OR SUBMIT ENQUIRY to find out the products available for your clients circumstances.
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| Location: | London |
| Value: | £3.6M |
| Case Type: | 1st Charge Bridge |
| LTV: | 65% |
