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Case study: The house with a title defect

The borrower aimed to buy the property to refurbish and then add it to their existing BTL portfolio. But there was an unusual issue to deal with.


The basics:

  • Initial loan: £135,000

  • Rate: 0.95%

  • Issue: outstanding lease from the 1700s

  • Completion: within 5 days

With years of experience in housing, the client intended to take out a 6-month bridging loan of £135,000 with us. They had to complete a purchase of a freehold house as soon as possible so as not to lose their deposit.


Interestingly, the house also had an outstanding lease from the 1700s. The issue was cleared by a solicitor, which led to a speedy completion - 5 days from the date we'd received their application.


While the purchase price was £155,000, thanks to the bridge, the value of the property increased to £220,000 after refurbishment.

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