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Case study: 3-week completion

Updated: Oct 25

The case introduces an experienced mother and son duo, who raised a 2nd charge on their residential home. The bridging loan was to fund their purchase of a new buy-to-let 6-bedroom property in Birmingham.



Basics

  • Tenure: freehold

  • Property value: £1,015,000

  • Initial Gross Loan: £404,750

  • Loan term: 12 months




The clients were under pressure to complete within a tight deadline – 3 weeks – which our team met without any significant issues.


Exit will be a refinance of the new property with a term buy-to-let loan where the expected rent is sufficient to support this.


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