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Bridging Finance for Fast Property Purchase

Deal Structure

70% Loan to value

Interest Rate at 0.65% per month

2% Arrangement Fee

No exit fees

6 months term

Small amount of adverse credit allowed.

Deal Summary

Our client had been offered a property at an excellent discount on the condition he could complete the purchase within 2 weeks. This deal was presented to our client completely “off market”, and therefore he wanted to take advantage, and quickly.

The client had some slight adverse credit historically, but recent enough to cause an issue for some lenders.

We approached a Bridging Finance lender whom we knew to be comfortable with a small amount of adverse credit in the background, and who could also move quickly.

Our client had the necessary cash available for the deposit and knew the area well and was therefore confident that the valuation would “stack up”. This knowledge allowed him to instruct the valuation and the legals and the same time.

Completion occurred within 10 days and the vendor and client are both very happy.

Contact James Waddicker

James@positivecommercialfinance.co.uk

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