Bridging loan provided for mixed-use property won at auction

Knowing the tight timescale and the complexities that mixed-use properties can present, a prompt yet comprehensive valuation is an important step. Our expert valuation partners provided this as expected, confirming the status of both the commercial and residential units. Their report included an assessment of the refurbishment works needed for the residential flat, which were in line with information provided by the client and their planned renovation budget.

The client’s proposed plan to exit via refinancing with a more traditional lender was something we saw as appropriate.

The remaining questions we had around the property related to various forms of certification, which the client could not obtain or provide until they had acquired the property itself. To address this, the client agreed that they would obtain these promptly following the purchase of the property.