Experienced client receives urgent bridge loan for auction purchase

Given the time-sensitive nature of this case, where funds were needed urgently to complete the purchase, it was vital that we acted quickly and efficiently. With our in-house legal team, experienced underwriter, and dedicated case managers working together on every deal, our team were able to identify and overcome any potential issues from the outset, ensuring we see the deal through to completion.

Our valuation partners raised comments indicating that the property’s estimated value, in its current state, was ambitious. However, they also highlighted that if proposed repairs and refurbishments take place, the estimated value would be reflective of the property at the completion of the works. 

With the required works being necessary to improve the EPC rating to a level where the property could be let, our valuation partners were confident that once refurbishments were complete the property would be tenanted within the loan term.

The client has a clear exit strategy, which involves refinancing the residential bridging loan into a longer-term loan with another lender. This provided us with reassurance that the loan would be paid in a timely manner, and thus, we were comfortable approving their application.