The client bought a property at auction, which they planned to rebuild, expand and let out. Their broker reached out to us, as they needed funds for the adjoining land.
Initial loan: £150,000
Loan proceeded in client's personal name
Term: 12 months
Exit via development finance
Completed in 9 days
The broker provided a fully packaged case from the start, giving us a full insight into the client's needs, which allowed us to move quick through the rest of the process.
Full valuation was done and report received within 2 days. Consent from 1st charge holder was also gained within that timeframe due to the efficiency of our solicitors.
The funds were released and secured against the client's own home (2nd charge). Both parties involved were satisfied with the speed and logic we all put into the case to meet the deadline.